Euro 150 million bilateral term loan with the European Investment Bank (EIB)
On July 10, 2017 Cosmote signed, with the guarantee of OTE, a Euro 150 million bilateral term loan with EIB. The EIB loan was fully drawn on January 23, 2018, 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, 2022, Cosmote had repaid in total Euro 92.3 million, under the EIB loan.
As a result, as of September 30, 2022, the nominal amount of the EIB loan was Euro 57.7 million.
Euro 150 million Bank Loan with the European Bank for Reconstruction and Development (EBRD), with the use of loan funds from the National Recovery and Resilience Facility ‘Greece 2.0’, financed by the European Union
On 7 July 2022, OTE signed a Euro 150 million loan agreement with the EBRD. The loan has a tenor of 8 years with repayment at maturity and bears a total blended fixed interest rate of 1.561% per annum.
Out of the Euro 150 million loan amount, Euro 93.75 million are financed by the European Union's Recovery and Resilience Facility, channeled through the Greek Ministry of Finance, while Euro 56.25 million are financed by EBRD.
On 13 July 2022, OTE proceeded with the drawdown of the full amount under the Euro 150 million EBRD Loan.
Euro 100 million Revolving Credit Facility with National Bank of Greece and Alpha Bank
On July 24, 2020 OTE signed a Bond Loan Agreement, in the form of committed Revolving Credit Facility of Euro 200 million in total and a tenor of 2 years, with the syndication of National Bank of Greece and Alpha Bank SA.
On 22 July 2022, OTE extended for 2 years the facility with a simultaneous reduction of the committed amount to Euro 100 million.
As of September 30, 2022 the Facility was not drawn.
Financial Covenants
The above Bank Loans include two financial covenants tested on a semi-annual basis at Group level, namely:
