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Athens Macedonian News Agency: News in English, 14-09-11
CONTENTS
[01] Greece launches exchange offer for T-bill issues
[02] Court of Audit blocks 'Elliniko' sale on procedural grounds
[03] Three architrave pieces found in ancient Amphipolis
[01] Greece launches exchange offer for T-bill issues
ANA/MPA---Greece on Wednesday announced the re-opening of three-
and five-year bond issues to be offered in exchange for existing
short-term Treasury bills, as part of a broader programme to manage
more efficiently the country's liabilities. In an announcement, Greek
authorities said that the aim is to exchange state securities worth 1.0
billion euros. The move was announced by the finance ministry weeks ago
and aims to reduce the borrowing cost for the Greek state and to extend
the maturity of the debt. T-bill holders will be able to exchange their
holdings with new bonds, maturing in 2019 carrying a coupon of 4.75 pct,
or bonds maturing in 2017 with a coupon of 3.375 pct.
The exchange offer will begin on Thursday, 11 September, 8:00 local time
and will end at 19.00, unless an extension is given.
[02] Court of Audit blocks 'Elliniko' sale on procedural grounds
ANA/MPA---A Court of Audit ruling on Wednesday blocked the sale of
100 percent of Elliniko SA, the site of the former Athens airport,
by the Hellenic Republic Asset Development Fund (HRADF) on the grounds
that rules of transparency, equal treatment and competition had been
violated during the tender process. The ruling was issued after the
court inspected the draft of the sale contract and the procedure to
select the highest bidder in the sale for Elliniko.
Among the problems cited by the court was that the wording of a tender
for the sale restricted participation to financial bodies have a legal
personality or their unions and consortiums. In this way, the court
said, a series of financial agents were barred from participating,
including individual persons whether alone or in unions or consortiums
with others. According to the court, there were no special reasons to
justify such an exclusion.
It also objected to changes to the terms of the tender made in the second
phase of the process, so that the submission of new offers was essentially
impossible by potential investors that had not been pre-selected. In
addition, such late changes in the terms of a contract put up for tender
are forbidden by both Greek and European law unless there is a specific
provision referring to the possibility of an amendment.
[03] Three architrave pieces found in ancient Amphipolis
The archaeological excavation at the Amphipolis site unearthed three
architrave (epistyle) pieces, about 80 cm to 1 meter long and 15 cm
of height, at the Kasta tumulus, after the second diaphragmatic wall
behind the caryatids.
The findings, bearing traces of blue and red colour, were transferred
to the Amphipolis Archaeological Museum. According to Culture ministry
sources, there are more unscathed architraves in the antechamber.
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