2 minutesHellenic Petroleum S.A. (“Hellenic Petroleum” or the “Company”) announces that it has mandated four international and three Greek financial institutions to act as Mandated Lead Arrangers for a US$ 800,000,000 syndicated credit facility. The four international financial institutions will also act as Bookrunners. The Mandated Lead Arrangers are Alpha Bank A.E., Bank of America Securities Limited (Co-ordinator, Bookrunner and Agent), BNP Paribas (Bookrunner and Documentation Agent), Calyon (Bookrunner), EFG Telesis Finance S.A., HSBC Bank plc (Bookrunner), and National Bank of Greece S.A.
The facility has a maturity of 5 years with two one-year extension options. It will be used for general corporate purposes and to refinance existing financial indebtedness of the Hellenic Petroleum Group (the ‘Group’).
The financing will be raised by the recently established London based treasury company of the Group (“Hellenic Petroleum Finance plc”), will be guaranteed by the Company, and is part of the ongoing reorganisation of the Group’s treasury operations aiming to centrally manage and optimise the funding, liquidity and foreign exchange and interest risk management activities of the Group.
As part of the Company’s objectives to increase the awareness of the international markets with regards to its strategy and to establish a strong relationship group of international and domestic banks, the management of the Company will be carrying out presentations to participant banks in London and Athens.
As part of the Company’s objectives to increase the awareness of the international markets with regards to its strategy and to establish a strong relationship group of international and domestic banks, the management of the Company will be carrying out presentations to participant banks in London and Athens.
Hellenic Petroleum
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 exploration and production of hydrocarbons international portfolio (E&P), 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. In FYROM, the Company owns and operates the sole refinery in that country, 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 retail petrol stations.
Hellenic Petroleum’s main shareholders are the Hellenic Republic and Paneuropean Oil and Industrial Holdings S.A. with the remainder part (c.30%) floated in the Athens Stocks Exchange.
Hellenic Petroleum reported net sales of €6,653 million and total assets of €4,190 million in the financial year ended December 31, 2005, and has c.5,500 employees.
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