Coke bot­tler to sell bonds of 800 mln eu­ros

Kathimerini English - - Front Page -

Coca-Cola HBC AG is is­su­ing its first bonds since the world’s sec­ond-big­gest bot­tler of the soft drink switched its stock list­ing to Lon­don from Athens as Euro­pean bor­row­ing costs climb to a three-month high. CCHBC wants to sell 800 mil­lion eu­ros of seven-year notes that will be priced to yield 105 ba­sis points more than the bench­mark midswap rate, ac­cord­ing to a per­son fa­mil­iar with the deal. The bot­tler is also of­fer­ing to buy back any or all of the 500 mil­lion eu­ros of 7.875 per­cent notes due 2014 to lower its in­ter­est costs and im­prove its debt pro­file, the com­pany said yes­ter­day in a state­ment. Philip Wal­ters, an ex­ter­nal spokesman for CCHBC, de­clined to comment on the new bond

The Gen­eral Sec­re­tariat for In­for­ma­tion Sys­tems will have swift ac­cess to bank ac­counts held by de­pos­i­tors un­der in­ves­ti­ga­tion for tax eva­sion, cor­rup­tion and money laun­der­ing as well as il­le­gal rev­enues, ac­cord­ing to a draft law sub­mit­ted by the Fi­nance Min­istry to Par­lia­ment yes­ter­day. sale, which needs to be com­pleted be­fore the buy­back can be­gin. CCHBC moved its list­ing to Lon­don to ac­cess a wider pool of in­vestors, Chief Fi­nan­cial Of­fi­cer Michalis Imel­los said in April.

Eurobank CEO.

The CEO of Greece’s fourth-largest lender Eurobank, Nikos Nanopou­los will not seek a new term as chief ex­ec­u­tive at the bank’s up­com­ing an­nual share­hold­ers meet­ing, the lender said yes­ter­day. Eurobank was the first ma­jor Greek bank to be taken over by the state bank res­cue fund in the coun­try’s debt cri­sis through a re­cap­i­tal­iza­tion ear­lier this year. The govern­ment’s Hel­lenic Fi­nan­cial Sta­bil­ity Fund in­jected 5.84 bil­lion eu­ros to plug the bank’s cap­i­tal hole in ex­change for new shares, be­com­ing its ma­jor share­holder. Eurobank’s an­nual share­hold­ers meet­ing on June 27 will pick a new board, the bank said.

Cyprus’s en­ergy min­is­ter has said that Is­raeli en­ergy firm Delek is look­ing to take part in the de­vel­op­ment of a gas pro­cess­ing fa­cil­ity on the is­land – a ma­jor pro­ject the govern­ment is hop­ing will bol­ster the coun­try’s shaken econ­omy. Ge­or­gios Lakkotrypis said that se­nior Delek of­fi­cials yes­ter­day held talks with Cypriot Pres­i­dent Ni­cos Anas­tasi­ades. Delek and sub­sidiary Avner Oil Ex­plo­ration hold a 30 per­cent stake in a gas field off Cyprus’s south­ern coast that’s es­ti­mated to con­tain 5-8 tril­lion cu­bic feet of gas. Texas-based No­ble En­ergy holds the other 70 per­cent. Gideon Tad­mor, Delek Drilling Chair­man, said he was hope­ful of “a long-last­ing co­op­er­a­tion be­tween our com­pany, the state of Is­rael and Cyprus.” Cyprus has li­censed other oil and gas com­pa­nies in­clud­ing Italy’s ENI, France’s To­tal and South Korea’s Ko­gas.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.