Last checked at 29 Sep 2016 14:05
Athens, 29 September 2016
Hellenic Petroleum Finance tender offer to holders of its outstanding
Notes due May 2017
Hellenic Petroleum S.A. announces that its wholly owned subsidiary, Hellenic Petroleum Finance PLC (the "Company"), announced today to the Luxembourg Stock Exchange an invitation to holders of its 8 per cent €500,000,000 Notes due May 2017, of outstanding principal amount of €489,932,000 (the "Notes"), guaranteed by Hellenic Petroleum S.A., to tender such Notes for purchase by the Company for cash (the "Offer").
According to the Offer, the Company will pay a cash purchase price equal to €1,035 per €1,000 in principal amount of the Notes validly tendered and accepted for purchase pursuant to the Offer plus any accrued and unpaid interest in respect of the Notes up to but not including the Payment Date, which shall be on or around 14 October 2016. The Offer is also being made on the additional terms and subject to the conditions contained in the tender offer memorandum dated 29 September, which will be available to eligible holders of the Notes.
The purchase of any Notes by the Company is at the sole discretion of the Company and subject to the successful pricing of the issue of new fixed rate notes (the "New Notes"), with a maturity of five years, which the Company intends to proceed with and which will be guaranteed by Hellenic Petroleum S.A.. With regard to the Company's intention to issue New Notes, a separate announcement will follow.
Credit Suisse Securities (Europe) Limited, HSBC Bank PLC, Eurobank Ergasias S.A., Alpha Bank A.E., NBG Securities S.A. and Piraeus Bank S.A. will act as Dealer Managers and Lucid Issuer Services Limited as the Tender Agent.