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Greece's OTE proposes sale of five-year fixed-rate eurobonds
By Paul A. Harris
Portland, Ore., Jan. 29 - Greece's OTE plc announced in a Tuesday press release that it proposes to sell five-year fixed-rate eurobonds via its euro medium-term notes program.
The deal was the subject of a Tuesday conference call in Europe, hosted by BNP Paribas, Deutsche Bank and HSBC, according to a debt capital markets source in London.
The notes would be guaranteed by Hellenic Telecommunications Organization SA, which is rated at Caa1 by Moody's Investor Services, and B- by Standard & Poor's.
At the same time the Athens-based telecommunications company announced the planned new notes, it also announced a tender offer for its existing notes maturing in 2013 and 2014, at prices of par and 102 respectively, subject to completion of the new notes sale.
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