Economics
Hellenic Petroleum Structured Note Draws Bets on Greek Recovery
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Bank of America Corp. sold the first structured notes tied to Greece’s largest refiner, Hellenic Petroleum SA, as investors bet on a recovery in the nation at the heart of Europe’s debt crisis.
The lender raised a total $8 million in the first securities linked to a Greek company since 2008, according to data compiled by Bloomberg. The notes combining debt with derivatives were offered in four parts and mature in ten weeks to 36 weeks.