Notice to Holders of Greek GDP-linked Securities

USA - English

• USA - English

LONDON, May 15, 2025 /PRNewswire/ -- Several of the largest institutional holders of GDP-linked securities with expiration date 15 October 2042 and an aggregate notional amount of €61,788,602,400.00 (ISIN: GRR000000010) (the "Securities") issued by the Hellenic Republic (the "Republic") have formed an ad hoc group (the "Group") to consider certain matters relating to the recent purported exercise by the Republic of the purchase option included in Condition 6.1 (Purchase Option) of the Securities (the "Purchase Option").  The Group, which owns or controls in excess of 40% of the outstanding Securities, has retained White & Case LLP as legal advisor.

The Group notes that the Republic commenced proceedings in the English High Court against Wilmington Trust (London) Limited (the "Trustee" in relation to the Securities) on 6 May 2025 (the "Proceedings").  The Group understands that the Republic is seeking declarations from the Court in the Proceedings in relation to certain aspects of the exercise of the Purchase Option as to which the Group has expressed concerns, in particular the calculation of the call price for the Securities.  

Holders of the Securities who wish to learn more about the Group and its views regarding the exercise of the Purchase Option are invited to contact White & Case LLP at the following email address: [email protected].

SOURCE White & Case LLP