Greece issues invitation to tender for proposed 5-year bond

Monday, 24 July 2017 14:27
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Greece's first market exit after three years was announced on Monday by the coalition government in Athens, which announced an invitation to holders of outstanding bonds worth 4.75 percent, in essence a new five-year bond issue.

Τhe issue is aimed at holders of notes that mature in 2019 as well as to new investors. The notes will be issued on Tuesday, and the target is a yield of less than 4.95 percent.

A clearance date of Aug. 1 is forecast.

It announced that BNP Paribas, Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, Goldman Sachs International Bank, HSBC Bank plc and Merrill Lynch International will act as dealer managers for the switch and tender offer, while HSBC Bank plc will act as the billing and delivering Bank and Lucid Issuer Services Ltd. will act as the information agent.

The cash purchase price for existing notes validly tendered and accepted by the Greek state for purchase pursuant to the switch and tender offer will be equal to 102.6 per cent of the nominal amount of aforementioned existing notes. 



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