Hellenic Petroleum to Issue 5-year Notes to Refinance Debt

Greece's biggest oil refiner Hellenic Petroleum plans to issue five-year senior unsecured notes to refinance outstanding debt, the company said on Thursday.

The proceeds will be used to buy back for cash part of 500 million euros of 8 percent notes due May 2017 and repay other outstanding debt, Hellenic said in a statement.

Credit Suisse and HSBC Bank will act as global coordinators for the issue, while Greece's Eurobank, Alpha Bank , NBG Securities S.A. and Piraeus Bank (TPEIR.AT) will act as joint bookrunners for the issue.

Reporting by Angeliki Koutantou