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Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item
Published on 7/24/2017 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Greece offers 102.6 for 4.75% notes in one-day tender offer Tuesday

By Angela McDaniels

Tacoma, Wash., July 24 – Greece will hold a one-day tender offer for its 4.75% notes due 2019 on July 25, according to a notice.

The republic is offering 102.6% of par plus accrued interest.

The republic also plans to offer new euro-denominated fixed-rate notes due 2022 for cash in a Regulation S and Rule 144A benchmark-sized offering. Pricing is expected to occur July 25.

The settlement date for both the new offering and the tender offer is expected to be Aug. 1.

The tender offer is conditioned on the successful pricing and closing of the new notes.

The principal amount of 4.75% notes accepted for purchase will not exceed the net proceeds of the new notes.

Noteholders who submit an indication of interest in the new notes will be given priority in the tender offer. This priority will apply to a principal amount of 4.75% notes equal to the principal amount of new notes to which a holder’s indication of interest relates.

The dealer managers for the tender offer and the joint lead managers for the new offering are BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com), Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com), Deutsche Bank AG, London Branch (+44 20 7547 8011), Goldman Sachs International Bank (+44 20 7774 9862 or liabilitymanagement.eu@gs.com), HSBC Bank plc (+44 20 7992 6237 or LM_EMEA@hsbc.com) and Merrill Lynch International (+44 20 7996 5420 or DG.LM_EMEA@baml.com).

HSBC Bank plc is acting as billing and delivering bank, and Lucid Issuer Services Ltd. (+44 207 704 0880, greece@lucid-is.com or www.lucid-is.com/greece) is acting as information agent.


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