Last checked at 24 Jul 2013 12:56
ANNOUNCEMENT
COSMOTE Romania concludes €225 million loan led by EBRD to up 4G investments
OTE continues its successful refinancing plan
ATHENS, Greece - July 24, 2013 - Hellenic Telecommunications Organization SA (ASE: OTE, OTC MARKET: HLTOY), the Greek full-service telecommunications provider, announces that
COSMOTE Romania, subsidiary of the OTE Group, secured a €225 million loan arranged by the European Bank for Reconstruction and Development (EBRD) in order to finance the strategic growth of its broadband infrastructure. COSMOTE Romania will use the resources for the dynamic expansion of its 4G network and the renewal of spectrum licenses.
COSMOTE Romania will receive €75 million directly from the EBRD and €150 million through a syndicated loan from commercial banks. The loan matures in April 2018.
OTE Chairman and CEO, Mr. Michael Tsamaz, noted: "In a highly competitive market, COSMOTE Romania is investing in infrastructure to offer customers faster broadband, even better quality and innovative applications and services. The agreement with the EBRD is another part of OTE's multilayered refinancing strategy. The confidence of EBRD in the OTE Group opens up new outlets for other Greek companies which operate in countries in the scope of the Bank for potential strategic collaborations with such an important international institution."
About OTE
OTE Group is Greece's leading telecommunications organization and one of the pre-eminent players in Southeastern Europe, providing top-quality products and services to its customers.
Consisting of the parent company OTE S.A. and its subsidiaries, the Group offers fixed-line (voice, broadband, data and leased lines) TV and mobile telephony services in Greece and Romania, as well as mobile telephony services in Albania and Bulgaria. The Group is also involved in a range of activities in Greece, notably in real-estate and professional training.
OTE is listed on the Athens Stock Exchange and the London Stock Exchange. Following OTE's delisting from the NYSE, OTE's ADSs (American Depositary Shares) trade in the OTC (Over the Counter) market under the ticker HLTOY through the Level I ADSs program.
Additional Information is also available on https://www.ote.gr.
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
Christina Hadjigeorgiou - Financial Analyst, Investor Relations
Tel: +30 210 611 1428, Email: cchatzigeo@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
Eftychia Tourna - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 7236, Email:etourna@ote.gr
Eleni Agoglossaki - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 7880, Email: eagoglossak@ote.gr
Manousos Apostolakis - Communications & Regulatory Affairs Officer, Investor Relations
Tel: +30 210 611 6418, Email: mapostolakis@ote.gr