Hellenic Petroleum prices additional new notes placement, raising €79m, with a yield of 3.333%

HELLENIC PETROLEUM FINANCE PLC (“HPF”), a wholly owned subsidiary of HELLENIC PETROLEUM SA has successfully priced €74.5m principal amount of new notes (the “New Notes”), to be consolidated and form a single series with HPF’s existing notes due October 2021 (the “Original Issue”). The New Notes, which will be fully guaranteed by the Company, were offered through a private placement (the “Placement”) at an offering price of 106%, resulting in proceeds of €79m and a yield of 3.333% and are expected to be listed on the Luxemburg Stock Exchange.

This issue is the first transaction in Greece taking advantage of the new European regulatory framework and was covered by selected institutional investors, including the Black Sea Trade and Development Bank and the European Bank for Reconstruction and Development.

The proceeds of the New Notes will be used for general corporate purposes, more specifically the implementation of the Company’s and its group approved capital investment plan, including development in renewable energy sources.

The Placement supports the implementation of the Group’s financial strategy to reduce funding costs, as the New Notes were priced significantly lower than the Original Issue and further diversify funding sources with the participation of international financial institutions.

The closing and settlement of the Placement is expected to take place on 31 July, 2017, subject to customary closing procedures.