Greek operator Hellenic Telecommunications Organization (OTE) has revealed plans to issue €188m (US$250m) in notes on the Luxembourg bourse.
It will use the notes to redeem a €187m bond maturing in August.
OTE said the new notes, to be sold via…
Greek operator Hellenic Telecommunications Organization (OTE) has revealed plans to issue €188m (US$250m) in notes on the Luxembourg bourse.
It will use the notes to redeem a €187m bond maturing in August.
OTE said the new notes, to be sold via subsidiary OTE plc, will be consolidated with the existing €600m notesissued in February 2008, maturing in February 2015 with a coupon of 7.25%.
The incumbent is currently working to reduce debt that totalled €4.076bn at the end of Q3 last year, down 21.4% from €5.187bn in Q3 2011.
The telco’s “integrated plan” to meet August 2015 debt obligations includes the sales of Bulgarian units Globul and Germanos, and Greek satellite subsidiary Hellas Sat.
