Press Releases

BSTDB Invests In Bond by Hellenic Petroleum to Support Modernization


31-Jul-2017

BSTDB invests EUR 31.1 million in a bond issued by Hellenic Petroleum S.A., a leading Greek energy company with a core business in oil refining, petrochemicals, and fuels marketing and distribution. The Company will use the funding to implement its capital expenditure program in Greece and Bulgaria, including retail network expansion, modernization and environmental improvements.

 

Ihsan Ugur Delikanli, BSTDB President, said: “We are happy to support the capital investment program of Hellenic Petroleum and to contribute to the development of the Greek oil refining industry. Assisting in restoring Greek economic growth during the current challenging period is a strategic priority for BSTDB and we are pleased to see the returning economic stability and investors’ confidence in the country. We are planning to increase further our support for the Greek economy.”

 

Grigorios Stergioulis, Chief Executive Officer of Hellenic Petroleum S.A., added: “The Black Sea Trade and Development Bank plays an important role in the economic development of the countries in which it operates. We are very pleased to cooperate with BSTDB for the funding of our investment plans and we are looking forward to work together again in the future”.

 

The bond issue is the first transaction in Greece taking advantage of the new European regulatory framework on the EU prospectus regime.

 

The total volume of the bond issue was EUR 450 million in two tranches, with the BSTDB subscribing to the second tranche of EUR 74.5 million alongside the European Bank for Reconstruction and Development and other selected institutional investors.

 

Since beginning of its operations in Greece BSTDB has approved over EUR 470 million in more than 20 projects in the country. In the past two years the Bank considerably increased its financing in Greece, having invested over 150 million in six operations in the sectors of telecommunications, modernization of regional airports, small business development, etc. Greece is now the third largest Bank’s borrower, after Turkey and Russia. More information on BSTDB operations in Greece is available at http://www.bstdb.org/countries/greece.

 


* * * * * * * * * * *

 

 

Hellenic Petroleum S.A. is a vertically integrated refiner that currently enjoys a leading position in the Greek refining market. It operates three large refineries in Greece and is one of the largest refiners in the South East Europe with activities across the energy industry spectrum and a presence in six countries. It is listed on the Athens Stock Exchange.

 

Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, please visit www.bstdb.org

 

Press contact:
Haroula Christodoulou
Phone: +30 2310 290533
E-mail: cchristodoulou@bstdb.org

 



[Back to Press Releases]

 

  • About us
    Get to know us
  • Products and Services
    What we offer / What we do
  • Project Center
    Projects we develop
  • Investor Relations
    Financial Reports
  • Countries
    Where we operate
  • News and Events
    Media Center