Hellenic Telecommunications’ OTE completes tender for two bond series

By Jennifer Chiou

New York, July 9 – Hellenic Telecommunications Organization SA announced that subsidiary OTE plc wrapped the tender offer for its bonds due February 2015 and its bonds due May 2016.

According to a filing with the London Stock Exchange, the company accepted tenders for €305 million of the bonds due 2015 and €195 million of the bonds due 2016.

When the offer was announced, the company said that the respective purchase spreads would be 60 basis points and 160 bps over mid-swaps.

The purchase prices were set at 103.721 for the bonds due 2015 and 104.905 for the bonds due 2016.

The filing noted that the tender will be funded using the proceeds of the company’s upsized €700 million issue of 3˝% six-year senior notes. The offer is expected to settle on July 11.

Following the tender offer, €482.75 million of bonds due 2015 and €700 million of bonds due 2016 will remain outstanding.

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. It launched the offer on July 1.

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