Hellenic Telecommunications’ OTE tenders for bonds due 2015, 2016

By Jennifer Chiou

New York, July 1 – Hellenic Telecommunications Organization SA announced that subsidiary OTE plc has launched a tender offer for its bonds due February 2015 and its bonds due May 2016.

The company said that the respective purchase spreads will be 60 basis points and 160 bps over mid-swaps.

According to a filing with the London Stock Exchange, the total amount of bonds to be bought back will be determined within the next few days and will depend on the successful completion of a new euro-denominated bond issue.

Bondholders tendering their bonds will be able to apply for priority allocation in the new bond issue.

Questions may be directed to Dimitris Tzelepis, head of investor relations (30 210 611 1574 or dtzelepis@ote.gr).

Hellenic Telecommunications is an Athens-based telecommunications company.

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