“ATHENS (Reuters) – Greece says it is sticking to plans to close its offer to buy back its own bonds from investors on Friday in a deal that should meet a debt writedown target set by its international lenders.
The government said it would shield the country’s banks from any lawsuits over losses booked if they take part in the buyback.
The buyback, part of a broader debt relief package worth 40 billion euros ($52 billion) agreed by Greece’s euro zone and International Monetary Fund lenders last month, is central to efforts to bring its debt to manageable levels.
Athens has no plans to extend the deadline for bids beyond Friday, finance ministry officials said, dismissing a Greek newspaper report suggesting the government could extend the deadline to early next week.
“The process will close today and there is no need for an extension,” a senior finance ministry official said. A second official confirmed the 12.00 p.m. EST deadline….”
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