By Simon Miller

Greece is to extend the deadline for foreign law bondholders to accept the haircut agreed with Greek law bondholders last month according to reports.

Foreign law bondholders had until 8om GMT tonight (Friday) to accept the debt restructure that was agreed in February.

However, reports are coming through that Greece will extend the deadline to 4 April as it looks to swap €8.1bn (£6.7bn) of debt in the final phase of the bond exchange that has already seen a third of the country's debt written off.

However, the restructured bonds had a tough end of the week with ten-year bond yields rising by more than a full percentage point to 20% today.

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