Further to its announcement on 28.11.2006, ‘Syndicated Credit Facility’, HELLENIC PETROLEUM S.A. (the ‘Company’) announces that on 2.2.2007, its subsidiary, HELLENIC PETROLEUM FINANCE plc, signed a US$ 1,180,000,000 Syndicated Credit Facility Agreement in London with the guarantee of HELLENIC PETROLEUM S.A. A total of fifteen leading Greek and international financial institutions participated in the Facility.
The Facility amount is US$ 1,180,000,000, almost 50% higher than the launch amount, as the Company, in consultation with the Mandated Lead Arrangers, decided to satisfy the significant demand during syndication, mainly from international banks.
The Facility is the largest syndicated loan concluded by a Greek corporate (excluding shipping companies and financial institutions) during the last few years and is HELLENIC PETROLEUM Group’s first significant transaction in the international financial markets. During the syndication of the Facility, the Company gave a number of presentations of the Group and its strategic plans in London and Athens.
The Mandated Lead Arrangers of the Facility were: Alpha Bank A.E., Bank of America Securities Limited (Co-ordinator, Bookrunner, Facility Agent), BNP Paribas (Bookrunner, Documentation Agent), CALYON (Bookrunner), EFG Telesis Finance S.A., HSBC Bank plc (Bookrunner), and National Bank of Greece S.A. The participating banks are leading Greek and international financial institutions. Indicatively, Greek banks account for 32% of the total commitments, EU banks for 53%, US banks for 8% and Japanese banks for 7%.
The key terms of the Facility are the following:
• Facility Amount: US$ 1,180,000,000.
• Maturity: Five years with two one-year extension options.
• Interest Rate: LIBOR / EURIBOR plus a margin ranging from
0.18% - 0.25% p.a. based on a leverage grid.
The Facility will be used for general corporate purposes and to refinance existing financial indebtedness of the HELLENIC PETROLEUM Group.
HELLENIC PETROLEUM is a leading energy company in SE Europe and the largest industrial and commercial company in Greece with its main business activities comprising of refining and marketing (R&M) of petroleum products and petrochemicals. The Company is in the stage of developing an international portfolio of exploration and production (E&P) of hydrocarbons, and operates the first private CCGT power generation plant in Greece. The Company is also a 35% shareholder of DEPA SA (Public Natural Gas Company).
The Company owns and operates three of the four refineries in Greece and covers c.73% of local petroleum products demand. Hellenic Petroleum also covers c.23% of petroleum products consumption in Greece, having a distribution network of more than 1,300 retail stations throughout the country and operating a strong network for LPG, lubricant and industrial, aviation and marine fuel sales.
HELLENIC PETROLEUM has a strong position in R&M in seven countries overseas. The Company owns and operates the sole refinery in FYROM, while in Cyprus, Serbia, Montenegro, Bulgaria, Albania and Georgia the Company is involved in petroleum products marketing and operates a network of more than 210 Company owned retail stations.
HELLENIC PETROLEUM’s main shareholders are the Hellenic Republic and Paneuropean Oil and Industrial Holdings S.A. with the remaining shares (c.30%) floated in the Athens Stocks Exchange.
HELLENIC PETROLEUM will announce its results for the financial year 2006 on February 21, 2007.
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