Motor Oil talks €300 million five-year notes to yield in 5¼% area; pricing Thursday

By Paul A. Harris

Portland, Ore., May 14 - Motor Oil (Hellas) Corinth Refineries SA talked a €300 million offering of five-year senior notes to yield in the 5¼% area, market sources said.

The deal is set to price on Thursday.

Global coordinator and joint bookrunner HSBC will bill and deliver for the Regulation S-only offering.

Alpha Bank, Citigroup, Credit Suisse, NBG Securities and Piraeus are also joint bookrunners.

The notes come with three years of call protection.

The Athens-based oil refiner plans to use the proceeds to repay debt and for general corporate purposes.

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