Bondholder's "changed" their mind. May12 has been tendered // da bin ich mir nicht ganz sicher

http://andreaskoutras.blogspot.de/2012/04/bondholders-changed-their-mind-may12.html

Friday, 6 April 2012

Bondholder's "changed" their mind. May12 has been tendered

Looking at the new communication (4 April) issued by the Hell.Republic and comparing it with the old one (2 April)we find some interesting differences. First the and foremost we see that the 450million of the May12 bondholders somehow changed their vote. In the first communique bondholders voted down the proposed amendments while in this one it show the bond tendered. What happened and how and why bondholders changed their mind? The only think that we can assume is that either they were forced by some higher force to change their mind or that the Hell.Republic through some if its friends offered to buy them out at their price and then the new buyer submitted the bonds to PSI. If this is the case then it would destroy the myth that Greece does not pay hold outs and does not have the money to pay them. It means simply that the victims of this exercise are the retail bondholders and those outside the European magic circle of Banks (recapitalised). Most of the others have either been compensated through recapitalizations or exempted or given like in the case of Greek pension funds were promised assets to make good what they have lost.



The list of the bonds that changed their minds!

XS0147393861	15 May 2012	450,000,000	Not Passed	PASSED
XS0354223827	26 March 2013	240,000,000	Not Passed	PASSED
XS0165688648	02 April 2013	412,500,000	Not Passed	PASSED
XS0142390904	30 January 2014	197,000,000	Not Passed	PASSED
FR0010027557	29 October 2015	200,000,000	Not Passed	PASSED
XS0071095045	08 November 2016	376,576,916	Not Passed	PASSED
XS0078057725	03 July 2017	282,432,687	Not Passed	PASSED
XS0079012166	08 August 2017	470,721,145	Not Passed	PASSED
XS0110307930	14 April 2028	200,000,000	Not Passed	PASSED
XS0191352847	17 July 2034	1,000,000,000	Not Passed	PASSED
XS0292467775	25 July 2057	1,778,352,000	Inquorate ----------------------------------------------- AW: Foreign Law PSI Autor: Torman Datum: Heute, 13:27   Zitat: Zitat von Aldy Interessante Entwicklung bei den Foreign Law Bonds! Gefunden bei Andreas Koutras Blog The list of the bonds that changed their minds! Das ist ziemlicher Unsinn, was Andreas schreibt. Nur die Anleihen aus der ersten Liste werden komplett zwangsgetauscht. Und dies sind genau die selben, welche zuvor schon als "passed" gekennzeichnet waren. Bei den Anleihen aus der zweiten Liste werden nur die Teile getauscht, die sich freiwillig dafür entschieden haben. Auch das war so bekannt. Es gab also keinerlei merkwürdige Entscheidungsänderungen. Der Mai Bond ist weiterhin vorhanden nur mit einem etwas geringeren Volumen. Das Volumen wird wohl nach Abschluss noch bekanntgegeben.	PASSED