Deals of the month - OTE
Hellenic Telecommunications Organisation (OTE), the Greek telecommunications company, has launched what Dealogic says is the largest-ever issue from a Greek borrower. The EUR2.1 billion deal comprises a three-year fixed-rate note of EUR1.5 billion and a seven-year fixed-rate note of EUR600 million.
Market conditions made the February launch date inauspicious for a BBB-rated issuer, explains Tarang Khimasia, director on the corporate syndicate desk at Dresdner Kleinwort. "It required a major
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