Bernitsas Law acted as Greek law counsel to HELLENiQ ENERGY GROUP (HEG) in connection with a liability management exercise (LME) consisting of an invitation made by HELLENiQ ENERGY FINANCE plc (HEF) to holders of its outstanding c. €600m Notes due October 2024 (Existing Notes) to tender their Existing Notes for purchase by HEF for cash, in combination with the issuance and offering to international and domestic institutional investors through a bookbuilding process of €450m new notes due July 2029 (New Notes) guaranteed by HELLENiQ ENERGY HOLDINGS SA and HELLENIC PETROLEUM RSSOPP SA, and the listing of the New Notes on the Euro MTF market of the Luxembourg Stock Exchange.
The LME enabled HEF to early repay at attractive terms a significant amount of Existing Notes and reduce its liability thereunder accordingly, while the New Notes enables HEG to further strengthen its balance sheet, extend the average maturity of its debt obligations, and diversify and increase the available financing lines, supporting the implementation of its strategic transformation plan.
HELLENiQ ENERGY is one of the leading energy groups in Southeast Europe, with activities that span the entire energy value chain.
Partners Nikos Papachristopoulos and Maria Nefeli Bernitsa and Associate Marinos Shiapanis advised on this transaction which successfully closed on 24 July 2024.
