Hedge Funds Come to Rescue in Greece as Banks, Gov't Bail

Hedge funds are actively pursuing all investment avenues in troubled Greece. Money managers have expressed interest in buying up not only Greek government debt and shares in Greek equities but also corporate debt. Hedge funds buying up Greek debt According to Wall Street Journal, a recent example was set in the debut debt offering of Hellenic Petroleum where investors were so hungry for high yielding debt that in the end the company was able to sell bonds at a lower return than initially predicted. Hellenic Petroleum wrapped up the sale at $655 million, one day befoe expected, at a yield…