Greece Debt Restructuring

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04/09/2012 by Pharmaceuticals & life science
Greece Debt Restructuring

At a glance

In February 2012, the Greek government announced a debt restructuring which required holders to exchange their two-year and three-year bonds, currently scheduled to mature in December 2012 and 2013, for new non-interest bearing government bonds with longer maturities and a reduced redemption value. This edition of PwC's Pharmaceutical and Life Sciences Industry Alert discusses why pharmaceutical companies will need to evaluate the debt restructuring in order to properly assess the accounting impact of this event.

In February 2012, the Greek government announced a debt restructuring which required holders to exchange their two-year and three-year bonds, currently scheduled to mature in December 2012 and 2013, for new non-interest bearing government bonds with longer maturities and a reduced redemption value. This edition of PwC's Pharmaceutical and Life Sciences Industry Alert discusses why pharmaceutical companies will need to evaluate the debt restructuring in order to properly assess the accounting impact of this event.