Listed group Mytilineos issued a five year-bond on Friday that garnered such strong investor interest that saw its interest rate drop from the original level of 2.75 percent to 2.5 percent.
The issue was more than two-and-a-half times oversubscribed, as the group attracted offers of over 1.3 billion euros for the 500-million-euro issue.
The funds raised will be used for the financing of the group’s corporate objectives and payment of the issue's commissions and expenses.
The process is being conducted through the group’s Luxembourg-based subsidiary, Mytilineos Financial Partners SA.
Citigroup Global Markets Limited, HSBC Bank plc and JP Morgan Securities plc are the issue’s joint physical bookrunners. Credit Suisse Securities (Europe) Limited, Goldman Sachs International and Nomura International are the joint bookrunners, while Alpha Bank, Eurobank, National Bank and Piraeus Bank are the lead managers.
Mytilineos is one of the four Greek companies that currently enjoy a higher credit rating than the Greek state by Standard & Poor’s and Fitch: Mytilineos is rated BB- by S&P and BB by Fitch.