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PRESS RELEASES

Successful completion of EuroBond Issue
12.05.2014

HELLENIC PETROLEUM SA, in accordance with Law 3556/2007, 1/434/03.07.2007 Decision of the Hellenic Capital Market Commission, article 13 of Law 3340/2005 and3/347/12.07.2005 Decision of the Hellenic Capital Market Commission, announces today that:

HELLENIC PETROLEUM has successfully priced the issue of a 2-year, $400m Eurobond, with an annual fixed coupon of 4.625%. Total demand exceeded $1.4bn, a significant oversubscription of the issue, while institutional investors accounted for 50% of the demand. The strong interest, demonstrated from both Greek and international investors, resulted to the completion of book building process in a few hours and the upsizing of the transaction to $400m.

John Costopoulos, CEO of HELLENIC PETROLEUM Group, commented:

“The successful completion of HELLENIC PETROLEUM first dollar issuance, confirms the confidence of international capital markets and private investors towards the Company’s outlook and strategy.

The issue is in line with our financial strategy to diversify funding mix and reduce interest cost, as well as converting part of our loan portfolio to US dollars.

The level of demand, the speed of the book building process completion and the participation of high quality institutional investors confirm the Company’s ability to further increase its funding optionality.”

The notes, issued by HELLENIC PETROLEUM FINANCE PLC, are unsecured and fully guaranteed by HELLENIC PETROLEUM SA. The settlement of the transaction is expected to take place on 16May 2014 and the notes will be listed in the Luxembourg Stock Exchange. The proceeds of the issue will be used to refinance existing facilities and for general corporate purposes.

BNP Paribas, Credit Suisse Securities (Europe) Limited, Eurobank Ergasias S.A. and HSBC Bank plc acted as Joint Lead Managers to the issue.

  

The Issue or any other documents or materials relating to the Issue are not addressed, directly or indirectly, to the public in the Hellenic Republic (Greece). None of this announcement, the Issue and any other documents or materials relating to the Issue offer constitute a "public offer" (dimossia prosfora), within the meaning of Greek Law 3401/2005, or a "tender offer" (dimossia protassi), within the meaning of Greek Law 3461/2006, for the purchase, sale or exchange of, or otherwise for an investment in, securities in the territory of Greece.  Accordingly, neither this Issue nor any other documents or materials relating to the Issue have or will be submitted to the Hellenic Capital Market Commission for approval pursuant to such laws. The Issue and any other documents or materials relating to the Issue may only be distributed, delivered or otherwise made available in the Greek territory to "qualified investors"(eidikoi ependytes), as defined in article 2 of Greek Law 3401/2005 acting on their own account or on the account of their clients who are themselves qualified investors.