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 June 30, 2023, Cosmote had repaid in total Euro 103.8 million, under the EIB loan.
As a result, as of June 30, 2023, the outstanding balance of the EIB loan was Euro 46.2 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 July 7, 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 July 13, 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 SA
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 July 22, 2022, OTE extended for 2 years the existing facility, along with a simultaneous reduction of the committed amount to Euro 100 million.
As of June 30, 2023, the Facility was not drawn.
Financial Covenants
The above Bank Loans include two financial covenants based on loan specific definitions, tested on a semi-annual basis at Group level, namely:
