19 June 2018

HELPE's subsidiary raises €79M through notes issue

27 July 17 - RE+D Magazine
HELPE's subsidiary raises €79M through notes issue


IBI Group

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE


Public entity - GREECE


Consultant - GREECE


Antulio Richetta

Director IBI Group
Hellenic Petroleum on Wednesday announced that its subsidiary Hellenic Petroleum Finance Plc raised 79 million euros from a new note issue.


The new notes, which will be fully guaranteed by the company, were offered through a private placement at an offering price of 106 pct and yielded 3.333 pct.

The notes are expected to be listed on the Luxembourg Stock Exchange. This issue is the first transaction in Greece taking advantage of the new European regulatory framework and was covered by selected institutional investors, including the Black Sea Trade and Development Bank and the European Bank for Reconstruction and Development.

The proceeds of the New Notes will be used for general corporate purposes, more specifically the implementation of the Company’s and its group approved capital investment plan, including development in renewable energy sources.

The Placement supports the implementation of the Group’s financial strategy to reduce funding costs, as the New Notes were priced significantly lower than the Original Issue and further diversify funding sources with the participation of international financial institutions.

The closing and settlement of the Placement is expected to take place on 31 July, 2017, subject to customary closing procedures.


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