Japonica becomes one of the biggest Greek bondholders

Japonica becomes one of the biggest Greek bondholders

Japonica, a US-based investment fund, on Thursday said it was one of the biggest holders of Greek state bonds after completion of a public tender which began in June.
Speaking during a teleconference, P. Kazarian -owner of the fund- said that Greece has made the biggest "rebirth" of its debt and underlined that the market continued to undervalue Greece, particularly in comparison with its Eurozone partners. He added that Greece has managed what most people thought it was impossible. Kazarian predicted that Greek bond yields will fall below 5.0 pct in early 2014. He declined to reveal the exact sum of bonds that Japonica acquired through the public tender. The initial pledge was to buy Greek bonds worth up to 4.0 billion euros.