Ote Ads Regulatory News (OTES)

OTE plc launches cash tender offer and announces its intention to issue new notes

ATHENS, Greece - July 1, 2014 - Hellenic Telecommunications Organization SA (ASE: HTO, OTC MARKET:HLTOY), the Greek full-service telecommunications provider, announces, that:

OTE plc has launched a tender offer for its existing bonds maturing in February 2015 and May 2016, at purchase spreads of 60 bps and 160 bps over mid-swaps respectively. The total amount of bonds to be bought back will be determined within the next few days, and will depend on the successful completion of a new bond issue. The new bond will be issued under the OTE Plc Global Medium Term Note Programme, will be Euro denominated, bearing a fixed interest rate and will have a benchmark size. Bondholders tendering their existing bonds will be able to apply for priority allocation in the new bond issue. The purpose of the above liability management exercise is to extend OTE Group's debt maturity profile in an efficient manner.

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 new bonds, and the guarantee thereof, 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 new bonds and the guarantee thereof, 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 tender offer is not being made, directly or indirectly, to the public in the Hellenic Republic (Greece). None of this announcement, the tender offer memorandum and any other documents or materials relating to the tender offer constitute a "public offer" (dimossia prosfora), within the meaning of Greek Law 3401/2005, or a "tender offer" (dimossia protassi), within the meaning of Greek Law 3461/2006, 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 tender offer have or will be submitted to the Hellenic Capital Market Commission for approval pursuant to such laws. The tender offer and any other documents or materials relating to the tender offer may only be distributed, delivered or otherwise made available in the Greek territory to "qualified investors" (eidikoi ependytes), as defined in article 2 of Greek Law 3401/2005 acting on their own account or on the account of their clients who are themselves qualified investors.

Contacts:

Dimitris Tzelepis - Head of Investor Relations

Tel: +30 210 611 1574, Email: dtzelepis@ote.gr

Maria Kountouri - Assistant to the Head of Investor Relations

Tel: +30 210 611 5381, Email: mkountouri@ote.gr

Kostas Maselis - Senior Financial Analyst, Investor Relations

Tel: + 30 210 611 7593, Email: kmaselis@ote.gr 

Sofia Ziavra - Financial Analyst, Investor Relations

Tel: + 30 210 611 8190, Email: sziavra@ote.gr

Daria Kozanoglou - Senior Communications & Regulatory Affairs Officer,

Investor Relations

Tel: +30 210 611 1121, Email: nkozanoglou@ote.gr

Eleni Agoglossaki - Communications & Regulatory Affairs Officer, Investor Relations

Tel: +30 210 611 7880, Email: eagoglossak@ote.gr