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

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 2011On 25 August 2011, the Hellenic Republic approached Ministers of Finance in variousjurisdictions to request their assistance in compiling aggregate ownership information, byjurisdiction, of Greece’s outstanding securities maturing through 31 December 2020 in eachcase held by regulated institutions within their jurisdictions as of 30 June 2011. The inquiryis being made to prepare for the implementation of a voluntary liability managementtransaction to support the sustainability of Greek public debt outlined in a financing proposalsubmitted on 21 July 2011 by representatives of Greece’s private sector creditors. Theproposal laid out four options (each an “Option”) through which private sector holders ofeligible Greek Government Bonds (“GGBs”) could participate in the voluntary transaction.Through the inquiry, Greece seeks to obtain an indication of the expectations of institutionalholders of eligible GGBs regarding their eventual participation in such a transaction. Themain commercial terms of these Options and a list of all GGBs that Greece may elect toinclude 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 thisletter unless holders of eligible GGBs tender, in response to Greece’s eventual Invitation toTender, eligible GGBs having a principal amount equal to not less than 90% of all eligibleGGBs, including 90% of that portion of the eligible GGBs maturing during the period fromJune 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 itdetermines, in consultation with the official sector, that the total contribution of private sectorcreditors towards the financing needs of Greece and Greece’s debt sustainability resultingfrom this transaction is insufficient to permit the official sector to support the new multi-yearadjustment program for Greece announced on July 21, 2011.”GeneralTHIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FORSALE IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN ORELSEWHERE BY GREECE OR ANY OTHER SOVEREIGN OR ANY OTHER ENTITY.ANY SECURITIES THAT ARE ULTIMATELY OFFERED PURSUANT TO THELIABILITY MANAGEMENT TRANSACTION REFERRED TO HEREIN WILL NOT BEREGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE“SECURITIES ACT”), AND MAY NOT BE OFFERED OR SOLD IN THE UNITEDSTATES OR TO U.S. PERSONS UNLESS AN EXEMPTION FROM THEREGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE. ANYOFFER OF SECURITIES PURSUANT TO ANY LIABILITY MANAGEMENTTRANSACTION WILL BE MADE BY MEANS OF AN OFFER DOCUMENT THATWILL BE PREPARED BY GREECE FOR DISTRIBUTION