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Greece extends buyback deadline in the hope of more bids

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Greece extends buyback deadline in the hope of more bids

Greece extends buyback deadline in the hope of more bids
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Greece has extended a buyback invitation that is part of its international bailout agreed with the EU and IMF last month.

The deadline has been pushed forward by a day and a half in a bid to get more offers from bondholders.

The offer had been due to end on Friday with Athens aiming to buy back bonds with a face value of about 30 billion euros at deeply discounted prices.

That would lower its debt load to make it more manageable, and meet a condition demanded by its lenders for the release of its next aid tranche of 34.4 billion later this month.

Greece was given 10 billion euros to conduct the buyback.