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HELLENIC PETROLEUM successfully priced a new 5-year bond today, fully guaranteed by the Company.
A total of €375m was raised, with an annual fixed coupon of 4.875%, and the offers from new investors resulted in a significant oversubscription, with total order book at €700m.
A significant part of the demand originated from existing bondholders of the bond expiring in May 2017, who participated in the tender offer process which was completed yesterday.
The proceeds of the New Notes will be used partly to purchase the outstanding 2017 Eurobonds and partly to refinance existing financial Indebtedness of Helpe Group.
The Issue de-risks further the balance sheet of the Group, extending average debt maturity, diversifying funding sources and increasing available debt capacity, while reducing financial expenses.