Hellenic Telecommunications plans to price €300 million four-year bonds Tuesday

By Paul Deckelman

New York, Nov. 24 – The Hellenic Telecommunications Organization SA is expected to price a €300 million offering of four-year fixed interest rate bonds on Tuesday, according to regulatory filing.

The bonds are expected to be brought to market via subsidiaries of HSBC Bank, Citigroup and Deutsche Bank.

The stabilization period is expected to begin on Tuesday and run for a month, through Dec. 24.

The company, also known as OTE SA, will issue the new bonds via its OTC plc unit, under the latter entity’s global medium-term note program.

The bonds are not being offered for sale in the United States.

The Athens-based telecommunications company, which provides fixed-line phone service – voice, broadband, data and leased lines – as well as pay TV, ICT services and mobile telephony services in Greece and Romania and mobile telephony services in Albania, plans to use the proceeds from the notes to fund a previously announced tender offer for the existing OTE plc bonds maturing in May 2016 and February 2018.

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