H Eλλάδα υπέβαλε σήμερα: Letter of Inquiry on Debt Swap Plan

Επίσημη  επιστολή απέστειλε η Ελλάδα σε ξένους υπουργούς Οικονομικών για την αξιολόγηση της παγκόσμιας συμμετοχής σε ελληνικά κρατικά ομόλογα στο πλαίσιο της προετοιμασίας για το σχέδιο ανταλλαγής των ομολόγων.
Στην επιστολή, η Ελλάδα ορίζει ότι τουλάχιστον το 90 % των ιδιωτών κατόχων ελληνικών ομολόγων, ωρίμανσης το 2014 ή το 2020 πρέπει να συμμετέχουν  για να προχωρήσει το σχέδιο.

26 August 2011
On 25 August 2011, the Hellenic Republic approached Ministers of Finance in various jurisdictions to request their assistance in compiling aggregate ownership information, by jurisdiction, of Greece’s outstanding securities maturing through 31 December 2020 in each
case held by regulated institutions within their jurisdictions as of 30 June 2011.
The inquiry is being made to prepare for the implementation of a voluntary liability management transaction to support the sustainability of Greek public debt outlined in a financing proposal submitted on 21 July 2011 by representatives of Greece’s private sector creditors. The proposal laid out four options (each an “Option”) through which private sector holders of eligible Greek Government Bonds (“GGBs”) could participate in the voluntary transaction.

Through the inquiry, Greece seeks to obtain an indication of the expectations of institutional holders of eligible GGBs regarding their eventual participation in such a transaction. The main commercial terms of these Options and a list of all GGBs that Greece may elect to
include in the eventual liability management transaction are set out below.
The inquiry referred to above includes the following statement:
“Greece shall not be obliged to proceed with any portion of the transaction described in this letter unless holders of eligible GGBs tender, in response to Greece’s eventual Invitation to Tender, eligible GGBs having a principal amount equal to not less than 90% of all eligible GGBs, including 90% of that portion of the eligible GGBs maturing during the period from June 30, 2011 through August 31, 2014. If these thresholds (or either of them) are not met, Greece shall not proceed with any portion of the transaction described in this letter if it
determines, in consultation with the official sector, that the total contribution of private sector creditors towards the financing needs of Greece and Greece’s debt sustainability resulting from this transaction is insufficient to permit the official sector to support the new multi-year
adjustment program for Greece announced on July 21, 2011.”
General
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ELSEWHERE BY GREECE OR ANY OTHER SOVEREIGN OR ANY OTHER ENTITY.
ANY SECURITIES THAT ARE ULTIMATELY OFFERED PURSUANT TO THE
LIABILITY MANAGEMENT TRANSACTION REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE. ANY OFFER OF SECURITIES PURSUANT TO ANY LIABILITY MANAGEMENT TRANSACTION WILL BE MADE BY MEANS OF AN OFFER DOCUMENT THAT WILL BE PREPARED BY GREECE FOR DISTRIBUTION TO PERSONS ELIGIBLE TO PARTICIPATE IN SUCH OFFER.

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