ECONOMY

OTE bond issue twice oversubscribed

ote-bond-issue-twice-oversubscribed

OTE telecom said on Wednesday it will raise 350 million euros with a new four-year bond, the first Greek company to tap international debt markets in a year.

OTE, 40 percent-owned and managed by Deutsche Telekom, said after completing the book-building process that the issue was twice oversubscribed and that the bond would bear an annual coupon of 4.375 percent.

[Reuters]