104Following the adoption of Law No 4050/2012, the Greek authorities published the characteristics of a PSI in the reduction of the Greek public debt and invited the holders of the bonds concerned to participate in a bond exchange. Since the quorum and the majority required for the planned bond exchange to go ahead were reached, all holders of Greek bonds, including those who opposed the exchange, had their bonds exchanged pursuant to Law No 4050/2012, with the result that the value of those bonds fell.