Auction of GGB 3.875%, June 15, 2028 & GGB 4.25%, June 15, 2033  

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE THE DISTRIBUTION OF THIS DOCUMENT WOULD BE UNLAWFUL. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS.

THIS COMMUNICATION DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO BUY, ANY NOTES BY ANY PERSON IN ANY JURISDICTION IN WHICH IT IS UNLAWFUL FOR SUCH PERSON TO MAKE SUCH AN OFFERING OR SOLICITATION. THE SECURITIES DESCRIBED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT) OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION IN THE UNITED STATES AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. ACCORDINGLY, THE NOTES ARE BEING OFFERED, SOLD OR DELIVERED: (A) OUTSIDE THE UNITED STATES IN OFFSHORE TRANSACTIONS IN RELIANCE ON REGULATION S UNDER THE SECURITIES ACT; AND (B) IN THE UNITED STATES ONLY TO “QUALIFIED INSTITUTIONAL BUYERS” (AS DEFINED IN RULE 144A (RULE 144A) UNDER THE SECURITIES ACT) IN RELIANCE ON, AND IN COMPLIANCE WITH, RULE 144A.

On February 14, 2024 the Hellenic Republic will proceed with an auction for the re-opening of the following GGBs:

  • 3.875% with maturity June 15, 2028, in book entry form, ISIN GR0114033583.
  • 25% with maturity June 15, 2033 in book entry form, ISIN GR0124039737,

This operation comes to satisfy investors’ demand, also facilitating secondary market’s operation.

The amounts to be auctioned are:

(i)  up to 200 million Euro for the bonds with maturity June 15, 2028 and

(ii) up to 200 million Euro for the bonds with maturity June 15, 2033.

Settlement date is February 21, 2024 (T+5).

Only Primary Dealers (PDs) are allowed to participate with up to 5 competitive bids each, placed through the Electronic Trading System (H.D.A.T.) until 12:00 p.m. local time on February 14, 2024.

Only competitive bids will be accepted up to the auctioned amount and will be allotted at the last bid accepted in the auction (cut-off price).

The auction will be taken into consideration for the evaluation of the PDs.

No commission will be paid for the Bonds auctioned.

 

The notes to be issued by HR (the Further Notes) may not be fungible for U.S. federal income tax purposes with the original notes issued (the Original Notes). Whether the Further Notes would be fungible for such purposes will depend on, among other things, the date such Further Notes are issued, the yield of the outstanding Original Notes at that time based on their market value, and whether the Original Notes were issued with original issue discount (OID). If the Further Notes are not treated as fungible with the Original Notes for U.S. federal income tax purposes, the Further Notes may be issued with OID. Investors in the Notes should consult their tax advisors regarding the implications of the Further Notes being issued with OID.

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