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Hedge Funds Drive Demand For Greek Corporate Debt

WSJ – Hedge funds are the driving force behind the substantial demand for Greek corporate debt most recently seen in the Hellenic PetroleumELPE.AT +3.45% bond sale, say market participants, in a sign that investors with longer-term horizons still shun the riskiest of high-risk debt despite renewed appetite for yield.

Hellenic’s bond was 5.5 times oversubscribed with the final deal size set at €500 million ($654.9 million), twice the amount initially contemplated.

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