OTE to issue five-year bond with fixed interest rate

OTE telecoms said on Tuesday that it plans to issue a new five-year Eurobond with a fixed interest rate.

"At the same time OTE announces a tender offer for its existing bond issues maturing in August 2013 and April 2014, at prices of 100 percent and 102 percent respectively,» the company said in a statement to the Athens Stock Exchange.

"The total amount of bonds to be bought back will be determined within the next days and will depend on the successful completion of the new bond issue,» added the company.