BOSTON ( TheStreet) -- Bill Stone, chief investment strategist at PNC Asset Management, isn't worried about more Greek bailouts to come as a second $172 billion rescue was finally completed after months of haggling. He says investors shouldn't be concerned either about the uncertainty that could grip equity markets.The last-minute deal will see Greek debt holders swap their current bonds for new Greek bonds with maturities between 11 and 30 years. In exchange for taking a steep hit to the face value of the bond along with lower coupons, investors will also get European Financial Stability Facility notes. In total, investors would be agreeing to a 53.5% haircut and Greece's debt would be reduced by about $145 billion. It would also put off any disorderly default by Greece.
U.S. Investors Brace for a Third Bailout in Greece
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.