ECONOMY

ELPE said to be seeking refinancing loan from non-domestic lenders

Hellenic Petroleum SA (ELPE), Greece’s largest refiner, is seeking a 525-million-euro loan from non-domestic lenders as part of a refinancing package, according to two people with knowledge of the deal.

The transaction is expected to be completed this month, said the people, who asked not to be identified as the terms are private.

The Athens-based company may increase the size of the three-year facility after it received more commitments from lenders than targeted in syndication, the people said.

The company aims to raise a total of 750 million euros of loans to help repay debt that matured at the end of last year as well as in February 2013, it said on November 22.

The remaining 225 million euros will be provided by domestic lenders, the people said.

[Bloomberg]