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Greek debt buy-back 'attracts 30bn euros'


Greece has received offers amounting to around 30 billion euros ($A37.43 billion) for its debt buy-back scheme, local media reports say, suggesting the country could significantly cut its debt burden.

The offers were still being added up, the finance ministry said.

It was not clear when the results would be officially announced.

Private holders of Greek bonds, such as pension funds and banks, had been given until Friday evening to express their interest in participating in the buy-back plan.

In the deal, Athens is to use 10 billion euros in rescue-loan money to buy bonds at a third of their nominal value, cutting the country's debt by 20 billion euros, or around 11 per cent of its gross domestic product.

There are 63-billion-euros worth of bonds that are eligible for the buyback, of which Greek banks own around 17 billion euros.

The three largest banks have reportedly said they will take part in the scheme.

Members of the Eurogroup are to be informed of the results in a video conference on Sunday.

Athens has until December 13 to complete the buy-back.

The Eurogroup is then to meet to decide on the release of further aid money for Greece.