OTE plc borrows and raises funds from the market for financing Hellenic Telecommunications Organisation S.A. (OTE) and other subsidiaries of OTE. The company was incorporated in 1999 and is based in London, the United Kingdom. OTE plc is a subsidiary of Hellenic Telecommunications Organisation S.A.
1 King’s Arms Yard
London, EC2R 7AF
Founded in 1999
OTE plc Announces Tender Offer of Notes
Nov 23 15
OTE plc has launched a tender offer for its outstanding bonds maturing in May 2016 and February 2018 and announced its intention to issue a new bond of a four-year tenor. The May 2016 bonds will be repurchased at a price of 101.50%, and the February 2018 bonds will be repurchased at a price to be determined by reference to a spread of 350 bps over mid-swaps. The final amount of bonds to be repurchased will be determined by OTE plc, and will depend on the successful pricing of a new bond issue. The new bond will be issued under the OTE plc Global Medium Term Note Programme, will be euro-denominated and will bear a fixed interest rate. In respect of the May 2016 bonds, bondholders who are allocated in the new bond issue, in addition to tendering May 2016 bonds, will receive priority of acceptance in the tender offer. No such priority of acceptance will be given to any other tendering bondholders. The tender offer is not being made directly or indirectly in or into, or by use of the mail of, or by any means or instrumentality of interstate or foreign commerce of or any facilities of a national securities exchange of, the United States, and bonds may not be tendered in the tender offer by any such use, means, instrumentality or facility or from within the United States. Additional restrictions on distribution of this announcement and other materials relating to the tender offer, and participation in the tender offer, apply in Italy (participation permitted through authorised persons only), the United Kingdom, Belgium (qualified investors only) and France (providers of investment services relating to portfolio management for the account of third parties and/or qualified investors other than individuals, acting for their own account, only).