By Sarka Halas
Greek telecommunications company OTE, guaranteed by Hellenic
Telecommunications Organization SA (HTO.AT), has opened books on
its euro benchmark five-year bond, said one of the banks running
the deal said Wednesday.
Initial price recommendations on the bond are set to yield 8% to
8.25%.
BNP Paribas, Deutsche Bank and HSBC are lead managers on the
deal, which is expected to price later Wednesday.
OTE is 40%-owned by Deutsche Telekom (DTE.XE).
Ratings for the company are Caa1 by Moody's Investors Service
Inc. and B- by Standard & Poor's.
This is first euro-denominated corporate bond from a Greek
company since 2011, the last time OTE itself issued a bond.
Write to Sarka Halas at sarka.halasova@dowjones.com