Greece's consent solicitation spurs 2 1/8% bondholders to form group

By Angela McDaniels

Tacoma, Wash., March 6 - A group of holders of Greece's CHF 650 million 2 1/8% bonds due 2013 have formed an ad hoc group in response to the republic's consent solicitation, according to a news release from the group.

The group is "concerned" by the terms proposed in the solicitation and is "exploring means to address its concerns and to protect the rights" of bondholders.

Interested bondholders can contact the group through its legal adviser, Bingham McCutchen LLP (contact Tim DeSieno at 212 705-7426 or tim.desieno@bingham.com).

As previously reported, Greece is holding an exchange offer for €206 billion of its bonds and is seeking consents to exchange €177 billion of additional bonds on the same terms.

The deadline is 3 p.m. ET on March 8.

The holders of Greece's Swiss-law governed bonds may not exchange their bonds but can participate in the consent solicitation.

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