The Greek telecommunication organization OTE completed successfully the book of offers (bookbuilding) for bond issue of six-year fixed rate, totaling to 700 million Euro.

The coupon stood at 3.50% per annum, which is highly competitive and reflects the market confidence in the company’s strategy and the prospects of Greek economy. The issue was significantly oversubscribed, having collected a total demand of over 2.5 billion Euro.

The announcement confirms the relative reportage by newmoney.gr, which broadcasted that:

“Interest rates on Greek debt securities are expected to fall again in the six year issue of 500 million euro OTE starts today. Estimated to move between 3.5 and 3.75% with the main contractors being Morgan Stanley and Deutsche Bank.

The bonds will have an issue date of the 10th of July 2014 and an expiry date of the 9th of July 2020. The type issued bond is senior / unsecured. According to the market, this issue may be related to the public offer for Forthnet “.