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
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