Motor Oil (Hellas) Corinth Refineries S.A.’s €400 Million High Yield Bond Offering

In UK Milbank LLP, advised on the matter.

Milbank LLP advised Motor Oil Corinth Refineries S.A. with a team including Apostolos Gkoutzinis (Picture – Debt Capital Markets).

Motor Oil (Hellas) Corinth Refineries S.A. announced its high yield bond offering of €400 million 2.125% senior notes due 2026 (the “Offering”). The proceeds of the Offering have been used (i) to refinance the Company’s €350 million 3.250% senior notes due 2022, including payment of accrued and unpaid interest, (ii) for general corporate purposes and (iii) to pay fees and expenses incurred in connection with the Offering

The Company operates one of the top refineries in Europe and is the only base-oil producer in Greece. The Company is active in the crude oil refining and trading of oil products sectors, and the majority of its products are exported outside Greece. In recent years, the Company has been also investing methodically in renewable power generation and other related ESG sectors repositioning its business strategy in the circular economy of the future.

The Milbank team was led by European Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis (Picture), special counsel Trevor Truman and associates Iakovos Anagnostopoulos and Chara Makrygianni.

Involved fees earner: Iakovos Anagnostopoulos – Milbank LLP; Apostolos Gkoutzinis – Milbank LLP; Chara Makrygianni – Milbank LLP; Trevor Truman – Milbank LLP;

Law Firms: Milbank LLP;

Clients: Motor Oil Corinth Refineries S.A.;

Author: Giulia Di Palma