Greece names banks on key debt buy back

City A.M. Reporter
GREECE’S debt buy back plan, a key element of the cash-strapped country’s bailout deal, will be voluntary but must succeed, finance minister Yannis Stournaras said yesterday.

In his first major speech since a deal earlier this week to shave about €40bn (£32.2bn) off the country’s debt pile, Stournaras said the offer would be attractive to bond holders. Deutsche Bank will be the lead manager of the operation, working together with Morgan Stanley as deal manager