Hellenic Telecommunications Organization SA (ASE: HTO, NYSE: OTE), the Greek full-service telecommunications provider, today announced that its 100% owned subsidiary, OTE plc, has successfully completed the bookbuilding process for its proposed issues of a 9.5 year Fixed Rate Note of Euro 900 million and a 3 year Floating Rate Note in the amount of Euro 600 million, and that both tranches were priced yesterday. The Fixed Rate Note was priced at 99.20% and will pay an annual coupon of 4.625%, while the Floating Rate Note will pay interest quarterly based on Euribor plus a spread of 28 bps.
The proceeds from the issues of the bonds are expected to be used for the refinancing of the Euro 1.5 billion bridge facility of Cosmote SA, which was signed in August 2006 for the acquisition of Germanos SA and for general corporate purposes.
Both tranches of the bonds will be issued by OTE plc and will be fully and unconditionally guaranteed by Hellenic Telecommunications Organization S.A. under its Euro 5 billion Global Medium Term Note Programme. An application has been made for the bonds in each tranche to be listed on the Luxembourg Stock Exchange. Settlement is expected to occur on or about November 21, 2006.
Citigroup, Dresdner Kleinwort, JP Morgan and NBGI acted as joint bookrunners.
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