ELPE plans bond issue to refinance debt – Greece, 28 September 2016

According to Greek newspapers, the country’s largest oil refiner Hellenic Petroleum (ELPE) is planning new bond issue in order to refinance an existing 500 million euros bond which is due in May 2017. The new bond should be issued by the end of the year.
With the issuance of new five-year bond that will mature in 2021, the company plans to refinance a bond issued three years ago at an interest rate of 8 %. ELPE hopes to secure a yield of about 5 % for the new bond. It will be offered through the Luxembourg Stock Exchange while Credit Suisse Securities Limited, HSBC Bank PLC, Eurobank Ergasias, Alpha Bank, National Bank and Piraeus Bank will serve as the issue’s joint bookrunners.

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