By Serena Ruffoni
Greek telecommunications company OTE, guaranteed by Hellenic
Telecommunications Organization SA (HTO.AT), plans to issue a
five-year euro-denominated bond, said one of the banks mandated to
arrange the deal Tuesday.
The company plans to buy back its bonds maturing in 2013 and
2014.
OTE will update investors later Tuesday about its intentions on
a conference call. BNP Paribas, Deutsche Bank and HSBC are lead
managers on the projected bond issue.
OTE is 40%-owned by Deutsche Telekom.
Ratings for the company are Caa1 by Moody's Investors Service
Inc. and B- by Standard & Poor's.
Last Autumn, Greek dairy company FAGE priced a
dollar-denominated bond. This from OTE is the first
euro-denominated corporate bond from a Greek company since 2011,
the last time OTE itself issued a bond.
Write to Serena Ruffoni at serena.ruffoni@dowjones.com