ECONOMY

Hellenic Petroleum raises 500 mln in bond issue

hellenic-petroleum-raises-500-mln-in-bond-issue

The five-year bond that Hellenic Petroleum issued on Friday met with strong demand that brought its interest rate down to just 2.125 percent, against an original estimate of 2.5 percent.

Investors’ bids added up to 1.5 billion euros, more than three times the issue that was aimed at raising 400 million, which led the group to draw 500 million euros instead.

The bond issue will improve the group’s debt profile, making it more sustainable.