Hellenic Telecommunications has raised €500 million in a bond sale. The notes, which carry a coupon rate of 7.25%, will mature in 2014. The issue of bonds, to be listed on the Luxembourg Stock Exchange, was oversubscribed 3.6 times.

The notes will be issued by OTE and will be fully and unconditionally guaranteed by

Hellenic Telecommunications under its €6.5 billion global medium term note program. The joint book-running managers for the sale were Alpha Bank, BNP Paribas, EFG Eurobank, HSBC Bank and Morgan Stanley.

Click here for the release from OTE.