The Greek government announced a bond swap on Wednesday as a step for Greece to stand on its own feet after the end of the third bailout program in August 2018.
The swap is an effort to build market confidence for when the country stops getting loans from the European Union and the International Monetary Fund.
Specifically, investors are invited to swap 20 bonds worth a total 29.7 billion euros, with five new bonds. The new bonds will have maturities of 5, 10, 15, 17 and 25 years and the deadline for offers is November 28.
The aim of the swap is to have fewer and more marketable bonds, while at the same time it allows investors to liquidate their portfolios with greater ease.
The Greek government is planning a new bond sale in early 2018, after the completion of the third review of the bailout program.
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