OTE Telecom opens books for 7-year bond issue

Greece’s biggest telecoms operator OTE is tapping debt markets with a 7-year bond, aiming to raise 500 million euros ($551.05 million), it said on Tuesday.

The bookbuilding process opened earlier on Tuesday, OTE, which is 45% owned and managed by Germany’s Deutsche Telekom , said.

OTE mandated BNP Paribas and Goldman Sachs International for the issue. Offers had exceeded 2.25 billion euros according to IFR, Refinitiv’s capital markets news service.

[Reuters]