Euro 339 million Syndicated Loan arranged by the European Bank for Reconstruction and Development (“EBRD”) and Euro 50 million parallel Loan by the Black Sea Trade and Development Bank (“BSTDB”)
On September 12, 2016 OTE signed a Euro 339.0 million Syndicated Loan arranged by the EBRD and a Euro 50.0 million parallel bilateral loan with the BSTDB. Both loan facilities included same terms and conditions and specifically had a three-year tenor and had to be repaid in equal semi-annual installments. Both loan facilities bear an interest rate of Euribor plus margin of 3.5% p.a. for the EBRD facility and of 2.5% p.a. for the BSTDB facility.
On September 26, 2016 OTE drew the full amounts of Euro 339.0 million and of Euro 50.0 million under these loan facilities. The Loans were repaid at maturity on September 16, 2019 .
Euro 150 million bilateral term loan with the European Investment Bank (EIB) and Euro 150 million syndicated facility arranged by the European Bank for Reconstruction and Development (EBRD)
On July 10, 2017 Cosmote signed, with the guarantee of OTE, a Euro 150.0 million bilateral term loan with EIB and a Euro 150.0 million syndicated facility arranged by EBRD.
On October 3, 2017 Cosmote proceeded with the drawdown of the full amount under the Euro 150.0 million EBRD loan. The EBRD loan is a syndicated facility (structured as an A/B loan) and has a maximum tenor of 3.5 years with semi-annual repayment schedule. The A Loan and B Loan bear floating interest rate with a margin of 2.95% p.a. and of 2.90% p.a. over Euribor respectively.
On September 27, 2019 Cosmote fully prepaid the outstanding balance of the EBRD Loan amounting to Euro 58.1 million.
On January 23, 2018, Cosmote. proceeded with the drawdown of the full amount under the Euro 150.0 million EIB loan. The EIB loan has a tenor of 7 years with semi-annual repayment schedule and bears fixed interest rate of 2.805% p.a.
Up to September 30, 2019, Cosmote had repaid in total Euro 23.1 million, under the EIB loan. As a result, as of September 30, 2019, the nominal amount of the EIB loan was Euro 126.9 million.
All the above Bank Loans include two financial covenants tested on a semi-annual basis at Group level, namely: