Hellenic Petroleum starts tender offer for 8% notes due 2017

New York, Sept. 29 – Hellenic Petroleum SA said its Hellenic Petroleum Finance plc subsidiary began a tender offer for its €489,932,000 of 8% notes due May 2017.

The issuer is offering €1,035.00 per €1,000 principal amount of notes plus accrued interest up to but excluding the payment date, according to a company announcement.

The tender will end at 10 a.m. ET on Oct. 6, and the payment date is expected to be Oct. 14.

Funding for the tender will come from an offering of new five-year notes, and completion of the tender is subject to the pricing of those notes.

In addition, the tender will have a cap set so that the total amount payable will be no more than the cash raised from the new notes.

Tenders from holders who subscribe for new notes will be given priority in the tender offer.

Credit Suisse Securities (Europe) Ltd., HSBC Bank plc, Eurobank Ergasias SA, Alpha Bank AE, NBG Securities SA and Piraeus Bank SA are dealer managers. Lucid Issuer Services Ltd. is tender agent.

Hellenic Petroleum is an Athens, Greece-based refiner.

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