HELLENIC TELECOMMUNICATIONS ORGANIZATION S.A. THE PRESENT DOCUMENT IS NOT INTENDED FOR RELEASE, DISTRIBUTION OR PUBLICATION INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
- Landmark transaction for OTE and Greece
- The first Greek international bond issue in over a year as Greece's economic outlook stabilizes
Athens, November 25th 2015
OTE has concluded intraday the bookbuilding process for the issue of a €350 million four-year fixed-rate bond reopening the international debt capital markets for Greek corporate issuers.
The coupon was set at a rate of 4.375% p.a. The issue was oversubscribed by 2x.
With the completion of this transaction, OTE will achieve an extension and further optimization of its debt maturity profile. Part of the proceeds of the new bond will be used for the repurchase of the May 2016 and February 2018 bonds under the tender offer that is currently outstanding and which expires on the 27th November 2015. Part of the proceeds will also be used to finance the Group's investment plan, contributing to the implementation of OTE's strategy that includes substantial investments for New Generation Networks, further improving the customer experience and developing Greece's telecommunications infrastructure.
OTE Group Chairman and CEO, Mr. Michael Tsamaz commented: 'This is the first new international bond issue by a Greek corporate, for over a year. It is a vote of confidence of the international capital markets to both OTE and the country. The demand for the new bond is an acknowledgement of our strategy as well as of the stabilization and prospects of the Greek economy.'
This new bond will be issued by OTE plc and guaranteed by ΟΤΕ SA under the existing Global Medium Term Note Programme, governed by English Law. The bond will be listed on the Luxembourg Stock Exchange. Settlement is expected on December 2, 2015.
Citi, Deutsche Bank and HSBC act as Joint Bookrunners of the issue, with Alpha Bank, Eurobank Ergasias, National Bank of Greece and Piraeus Bank acting as Co-Managers.
OTE GROUP MERGERS, ACQUISITIONS AND INVESTOR RELATIONS Τel. + 30 210-6111574 Fax: + 30 210-6111030 E-mail: esarsentis@ote.gr | MEDIA OFFICE ΟΤΕ GROUP CORPORATE COMMUNICATIONS DEPARTMENT Tel: +30 210-6117434 Fax: +30 210-6115825 E-mail: media-office@ote.gr |
NOTE: This announcement is published in accordance with the provisions of Law 3556/2007 [article 3, paragraph 1 (ist), (bb), and article 21)]; the 1/434/03.07.2007 Decision of the Hellenic Capital Market; article 13 of Law 3340/2005 and the 3/347/12.07.2005 Decision of the Hellenic Capital Market.
This communication is not an offer of securities for sale in the United States or any other jurisdiction where to do so would be unlawful. The bonds have not been and will not be registered in any jurisdiction and neither OTE SA nor OTE PLC intends to conduct a public offering of securities in any of these jurisdictions. In particular, no securities of OTE SA or OTE PLC have been or will be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), and the bonds may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws.
The new issuance is not being made, directly or indirectly, to the public in the Hellenic Republic (Greece). None of this announcement and any other documents or materials relating to the new issuance constitute a 'public offer' (dimossia prosfora), within the meaning of Greek Law 3401/2005, for the purchase, sale or exchange of, or otherwise for an investment in, securities in the territory of Greece. Accordingly, neither this announcement nor any other documents or materials relating to the new issuance have or will be submitted to the Hellenic Capital Market Commission for approval pursuant to such law. No offer of securities will be made in Greece other than in accordance with an exemption under Greek Law 3401/205 and the Prospectus Directive (as defined below).
This document is an advertisement and is not a prospectus for the purposes of Directive 2003/71/EC (such directive, together with any applicable implementing measures under such Directive, the 'Prospectus Directive'). The Final Terms for the new bonds, supplementing the Base Prospectus (dated 28 April 2015, as supplemented on 12 November 2015) prepared pursuant to the Prospectus Directive will be published in accordance with the Prospectus Directive. Investors should not subscribe for any transferable securities referred to in this document other than on the basis of information contained in the relevant Final Terms supplementing the Base Prospectus.
This document is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this document as a financial promotion is only being made to those persons falling within Article 12, Article 19(5) or Article 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 or to other persons to whom this document may otherwise be distributed without contravention of section 21 of the Financial Services and Markets Act 2000, or any person to whom it may otherwise lawfully be made. This communication is being directed only at persons having professional experience in matters relating to investments and any investment or investment activity to which this communication relates will be engaged in only with such persons. No other person should rely on it.
This document is an advertisement and is not a prospectus for the purposes of Directive 2003/71/EC (such directive, together with any applicable implementing measures in the United Kingdom under such Directive, the 'Prospectus Directive'). The Final Terms for the new bonds, supplementing the Base Prospectus (dated 28 April 2015, as supplemented on 12 November 2015) prepared pursuant to the Prospectus Directive will be published in accordance with the Prospectus Directive.
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