Greece’s main refiner Hellenic Petroleum issued a five-year syndication loan of $1.18 billion, the company said on Tuesday.
A total of fifteen leading Greek and international financial institutions participated in the facility. The loan has one year extension option.
“The facility is the largest syndicated loan concluded by a Greek corporate (excluding shipping companies and financial institutions) during the last few years and in Hellenic Petroleum Group’s first significant transaction in the international financial markets,” the company said in a statement.
Proceeds will be used for general corporate purposes and to refinance existing financial indebtedness of the refiner.