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Regulatory Announcements
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18.07.2024
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Announcement for the pricing of new €450m Bond Issue

“HELLENiQ ENERGY Holdings S.A.” (the “Company” and, together with its consolidated subsidiaries, the “Group”), in accordance with the provisions of Regulation 596/2014/EU, the Decision of the Hellenic Capital Market Commission no 1/434/03.07.2007 and the Athens Exchange Rulebook, and subsequently effective from 15 July 2024, announces that:

“HELLENiQ ENERGY FINANCE PLC” (“HEF” or the “Issuer”), a wholly owned subsidiary of the Company, has successfully priced the issue (the “Issue”) of a new 5-year Eurobond, due July 2029, fully guaranteed by the Company and its wholly owned subsidiary, “HELLENIC PETROLEUM R.S.S.O.P.P. S.A.”, of an aggregate principal amount of €450m, at a fixed coupon of 4.25%, Υield-To-Maturity (YΤΜ) of 4.375% and an issue price of 99.444% (the “New Notes”). The New Notes are expected to be listed for trading on the Euro MTF market of the Luxembourg Stock Exchange.

Total demand in the offer book exceeded €1bn, coming both from holders of existing bonds (HEF issue, due October 2024 - the "Notes") through the tender offer process for the Notes (the "Offer"), as well as from new investors. Notably, the demand from new investors exceeded the additional requested amount by 4x, beyond the demand through the Offer. Due to the increased investor interest, the final issue amount was upsized to €450m compared to the initially requested amount of €400m, while the yield was set at 4.375%, significantly lower than the initial price talk of 4.75% at the launch of the book building process.

Mr. Andreas Shiamishis, CEO of the Company, commented: "The success of the new Eurobond issue is a significant vote of confidence from investors in the HELLENiQ ENERGY Group. The transaction garnered substantial investor interest, with the participation of high-quality investors and a geographically diverse distribution. Notably, it was concluded within a few hours, resulting in a notable decrease in the final yield and a simultaneous increase in the issue amount. Demand from international institutional investors was strong, exceeding 40% of the new money offered. The issue further strengthens the Group's balance sheet, extends the average maturity of its debt obligations, and diversifies and increases the available financing lines, supporting the implementation of our strategic transformation plan."

The funds raised from the Issue will be utilized at the discretion of the Issuer, for the partial redemption and refinancing of the Notes, as well as for general corporate purposes. The settlement of both the Issue and the Offer is expected to take place on 24 July 2024.

Citigroup Global Markets Limited and Goldman Sachs Bank Europe SE acted as Global Coordinators and Physical Joint Bookrunners., HSBC Continental Europe S.A. as a Joint Bookrunner and Alpha Bank S.A., Eurobank S.A National Bank of Greece S.A. and Piraeus Bank S.A. acted as Co-Lead Managers for the Issue.

The Offer, the Issue, the present announcement and any other document relevant to the Offer and/or Issue do not constitute a “public offer of securities” within the meaning of Regulation (EU) 2017/1129, or “public offer” within the meaning of Greek Law 3461/2006, for the purchase, sale or exchange or otherwise investment in securities within Greece. The Offer, the Issue or any other document or relevant material relating to the Offer and/or the Issue have not been nor will they be submitted to the Hellenic Capital Market Commission for approval under the aforementioned laws. The Offer, the Issue and any other document or relevant material related to the Offer and/or issue may be distributed, delivered or made available within Greece only under the conditions and exemptions of the relevant legal framework.

 

 

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