OTE raises 400 mln€ from int'l debt capital markets via new 4-year bond issue

Thursday, 12 July 2018 11:52

OTE, Greece's largest telecoms provider, on Thursday announced that it had concluded a book-building process for the issue of a four-year, 400-million-euro bond in international debt capital markets.

According to an OTE press release, the issue was over-subscribed by approximately five times, and the coupon was set at 2.375 percent p.a. - the lowest OTE bond coupon in the last decade.

The transaction, according to the ASE-listed group, aims to refinance part of its future debt maturities at very attractive rates, "in view of the commitment towards shareholders and the Group’s investment plan in fiber, new generation networks and its digital transformation," OTE group CFO Babis Mazarakis stated.

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