HELLENiQ Energy Finance plc (HEF), a subsidiary of HELLENiQ Energy, has made a redemption offer for a total outstanding amount of €599.9 million at an interest rate of 2% and maturing in October 2024 against cash payments to bondholders as well as the issue of new bonds.

Under the proposal, it is intended that HEF will pay to holders of existing bonds who lawfully and validly accept the tender offer in cash an amount equal to 100% of the nominal value of existing bonds accepted for redemption by HEF, plus accrued interest, in accordance with the terms and conditions of the repurchase offer set out in detail in the information memorandum dated July 15, 2024, which will be available to eligible holders of existing bonds. 

The Repurchase Proposal is at the full discretion of HEF and the Guarantors and is conditional upon the raising of funds from the successful issuance and pricing of new fixed-rate bonds that HEF intends to issue, guaranteed by the Guarantors.

Alpha Bank, Citigroup Global Markets Limited, Goldman Sachs Bank Europe, Eurobank, HSBC Continental Europe, National Bank of Greece and Piraeus Bank will act as Dealer Managers, while Kroll Issuer Services Limited has been appointed to manage the Tender Offer. 
Issue of new bonds

In addition, HEF announced today that it intends to issue bonds (the "Issue" and the "New Bonds", respectively), guaranteed by the Guarantors, which are expected to be admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange. 

The funds raised from the Issue will be used at the discretion of HEF (i) to redeem Existing Bonds in accordance with the terms and conditions of the Tender Offer and (ii) for general corporate purposes. 

The Issue is conditional upon and subject to, in particular, the pricing of the New Bonds being acceptable, in HEF's sole discretion. 

Citigroup Global Markets Limited and Goldman Sachs Bank Europe SE will act as Global Coordinators and Joint Bookrunners, HSBC Continental S.A. as Joint Bookrunner, and Alpha Bank S.A., Eurobank S.A., Eurobank S.A., National Bank of Greece S.A. and Piraeus Bank S.A. as Co-Lead Managers for the Issue.