By Paul A. Harris
Portland, Ore., Oct. 7 – Greece-based Hellenic Petroleum SA priced an upsized €375 million issue of non-callable 4 7/8% five-year senior notes at 99.453 to yield 5% on Friday, according to a market source.
The issue size was increased from €300 million.
Credit Suisse Securities (Europe) Ltd. and HSBC Bank plc were the global coordinators. Eurobank Ergasias SA, Alpha Bank AE, NBG Securities SA and Piraeus Bank SA were the joint bookrunners.
The Marousi, Greece-based oil company plans to use the proceeds to fund the tender for its €489,382,000 of outstanding 8% guaranteed notes due May 2017 issued by its wholly owned subsidiary, Hellenic Petroleum Finance plc, and to repay debt.
| Issuer: | Hellenic Petroleum Finance plc
|
| Amount: | €375 million, increased from €300 million
|
| Maturity: | October 2021
|
| Securities: | Senior notes
|
| Global coordinators: | Credit Suisse Securities (Europe) Ltd., HSBC Bank plc
|
| Joint bookrunners: | Eurobank Ergasias SA, Alpha Bank AE, NBG Securities SA, Piraeus Bank SA
|
| Coupon: | 4 7/8%
|
| Price: | 99.453
|
| Yield: | 5%
|
| Call protection: | Non-callable
|
| Trade date: | Oct. 7
|
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