JAPONICA PARTNERS Announces Further Details of the Greece Government Bonds Unmodified Dutch Auction Tender Offer

5 June 2013
Frankfurt
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR
RESIDENT IN THE UNITED STATES, ITS TERRITORIES OR POSSESSIONS, TO ANY U.S. PERSON (AS
DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR
TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS DOCUMENT. THE INVITATION IS SUBJECT TO RESTRICTIONS IN CERTAIN
JURISDICTIONS (IN PARTICULAR, THE UNITED STATES, THE UNITED KINGDOM, THE REPUBLIC OF
ITALY, BELGIUM, FRANCE, GERMANY AND THE HELLENIC REPUBLIC) AS MORE FULLY DESCRIBED
BELOW AND IN THE TENDER OFFER MEMORANDUM.
JAPONICA PARTNERS Announces Further Details of the Greece
Government Bonds Unmodified Dutch Auction Tender Offer
The Invitation has not been authorized by, and the Acquirer is not otherwise connected to, the Hellenic
Republic.
I. Summary
Further to its announcement on Monday 3 June 2013, Japonica Partners & Co. (“Japonica Partners”) today
announces the details of the invitation by its indirect wholly-owned subsidiary, Yerusalem Hesed, Ltd. (the
“Acquirer” or “Yerusalem Hesed”), to eligible holders of the bonds issued by the Hellenic Republic detailed in
Annex I (the “Designated Securities”, and each series of Designated Securities referred to in Annex I, a “Series”)
to tender such Designated Securities for purchase by the Acquirer for cash at prices to be determined pursuant to
an Unmodified Dutch Auction Procedure (the “Invitation”), all as more fully described in the Tender Offer
Memorandum (as defined below).
The maximum nominal principal amount of Designated Securities that will be accepted for purchase by the Acquirer
under the terms of the Invitation will be €2.9 billion (the “Aggregate Maximum Amount”), which represents less
than 9.9% of the total €29.6 billion aggregate principal amount outstanding of bonds of the Hellenic Republic
(together, the “Greece Government Bonds”)(1). The purchase of the Bonds by the Acquirer would permit existing
holders to monetize their Greece Government Bonds.
The rationale for the use of the Unmodified Dutch Auction Procedure is to apply an effective method to purchase
institutional blocks of the Designated Securities in an orderly and price-efficient manner.
The Invitation provides maximum flexibility by enabling the Acquirer to make immediate purch

http://www.tanea.gr/files/1/2013/Japonica_Announc.pdf[1].pdf