{"id":414682,"date":"2026-05-06T14:37:11","date_gmt":"2026-05-06T14:37:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/414682\/"},"modified":"2026-05-06T14:37:11","modified_gmt":"2026-05-06T14:37:11","slug":"greece-wins-uk-ruling-on-buyback-of-gdp-linked-securities-over-creditor-opposition","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/414682\/","title":{"rendered":"Greece wins UK ruling on buyback of GDP-linked securities over creditor opposition"},"content":{"rendered":"

\"Greece<\/p>\n

File photo. [AP]<\/p>\n

LONDON \u2013 Greece on Wednesday won a London court ruling on its plans to buy back GDP-linked securities issued to holders of government bonds as part of the country\u2019s 2012 sovereign debt restructuring.<\/p>\n

Greece had told its investors that it wanted to repurchase all \u2060of the outstanding \u2060warrants due in 2042 for a call price of just over 25 cents on \u200bthe euro.<\/p>\n

The country applied to \u2060London\u2019s High Court for declarations that it had validly exercised its option to \u2060purchase all of \u200cthe GDP-linked \u2060securities and that its calculation of the call price was lawful and binding.<\/p>\n

A group of \u200binvestors, represented by law firm White & Case, disputed \u200cthat Greece had validly exercised its option to buy back the securities or calculate the call price.<\/p>\n

But Judge Robert \u200bBright ruled in Greece\u2019s favor, a decision which could be challenged on appeal.<\/p>\n

Greece\u2019s Finance Ministry and White & \u200cCase \u200bdid not immediately respond to a request for comment.<\/p>\n

GDP-linked warrants are fixed income instruments that usually \u2060pay out once economic \u200cgrowth exceeds a certain threshold. They can be \u200bhighly illiquid and complex to value.<\/p>\n

Argentina and Ukraine \u200chave issued \u2060similar \u2060instruments to the Greek GDP warrant \u200bin debt restructurings. [Reuters]<\/p>\n","protected":false},"excerpt":{"rendered":"File photo. [AP] LONDON \u2013 Greece on Wednesday won a London court ruling on its plans to buy…\n","protected":false},"author":2,"featured_media":414683,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,246,111,139,69],"class_list":["post-414682","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-finance","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/414682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=414682"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/414682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/414683"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=414682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=414682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=414682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}