Η ανακοίνωση της κυβέρνησης και το χρονοδιάγραμμα του PSI

Athens, Greece:  The Hellenic Republic today announced the key terms of a voluntary transaction in furtherance of the 26 October 2011 Euro Summit Statement, known as the Private Sector Involvement,

and in the context of its economic reform programme that has been agreed with the European Union and the International Monetary Fund. The transaction is expected to include private sector holders of approximately EUR206 billion aggregate outstanding face amount of Greek bonds (excluding treasury bills).

The transaction is expected to involve a consent solicitation and an invitation to private sector holders of certain Greek bonds to exchange their holdings of existing Greek bonds for new bonds to be issued by the Hellenic Republic having a face amount equal to 31.5% of the face amount of the debt exchanged and notes of the European Financial Stability Facility maturing within 24 months having a face amount equal to 15% of the face amount of the debt exchanged, each to be delivered by the Hellenic Republic at settlement. Each participating holder will also receive detachable GDP-linked securities of the Hellenic Republic with a notional amount equal to the face amount of the new bonds of the Hellenic Republic issued to that participating holder. The full terms of the transaction will be set out in the relevant invitation memoranda which are expected to be made available in the coming week.

The Greek government will shortly submit to the Greek parliament a draft bill which, if passed, will introduce a collective action clause into eligible Greek law governed bonds of the Hellenic Republic as determined by the Council of Ministers of the Hellenic Republic. If passed, this law will be available to be used in the implementation of the PSI transaction if necessary to achieve participation at the levels anticipated by the 26 October 2011 Euro Summit Statement.

“A successful PSI transaction is required to bring Greece’s debt-to-GDP ratio on a downward path reaching 120.5% by 2020,” said Mr. Evangelos Venizelos, Greece’s Deputy Prime Minister and Minister of Finance. “It is also a condition for the continued disbursements by the official sector, which are essential for the implementation by Greece of its economic reform programme.  We have been consulting with our private sector creditors to design a transaction that is consistent with the Euro Summit Statement of 26 October 2011 and that will both enjoy broad support from investors and further the country’s goal of achieving a sustainable debt profile.”

No offer or invitation to acquire or exchange any securities is being made pursuant to this announcement in any jurisdiction. Nothing in this announcement constitutes an invitation to participate in the transaction referred to in this announcement which will only be made through the relevant invitation memoranda once published by the Hellenic Republic. The terms and conditions of the transaction referred to in this announcement will b