News & Releasess
Press Release – Issuance Of Common Bond Loan
Autohellas proceeds with the issuance of a five-year Common Bond Loan of up to €200,000,000
The Prospectus was approved by the Hellenic Capital Market Commission
The Public Offering will begin on 17 January 2024 and end on 19 January 2024
“AUTOHELLAS TOURIST AND TRADING SOCIÉTÉ ANONYME” with the distinctive title “AUTOHELLAS” announces that following the approval of the relevant Prospectus by the Hellenic Capital Market Commission on 11 January, proceeds with the issuance of a Common Bond Loan (CBL) of up to €200 million (with a minimum amount of €150 million) for a period of five years, through a Public Offering to the investors in Greece. The Public Offering starts on 17 January and ends on 19 January 2024.
Autohellas Group is today the largest Greek group in the car services and trade sector, in terms of total assets and revenue, with its activities covering the following segments: a) Car Rentals (Short-term and Long-term Rentals) in Greece, b) Car Trade (Import/Distribution/Retail Sales) in Greece, and c) International Activity (Short-term and Long-term Rentals / Car Trade).
The car rental activity expands through subsidiaries in eight (8) additional countries: Portugal, Bulgaria, Cyprus, Romania, Serbia, Montenegro, Croatia, and Ukraine. Today, the Group manages a fleet of over 57,000 vehicles and has a network of more than 160 service points worldwide (excluding the network of dealers), 50 of which are located at the largest airports in the countries where it operates.
The purpose of the CBL’s issuance is to issue up to two hundred thousand (200,000) common, registered, dematerialized, interest-bearings bonds, with a duration of five (5) years and a nominal value of €1,000 each, giving institutional and private investors the opportunity to participate in Autohellas’ development plan.
The issuance of the Common Bond Loan will enable the company to repay existing bank debt, to cover its working capital needs, and to further invest in the development of its fleet by renewing or upgrading its vehicles.
It is worth noting that Autohellas has implemented targeted strategic moves in recent years which have enabled it to establish synergies, make technological investments, and develop new solutions for future mobility. At the same time, the company has been steadily enriching its fleet with “green” vehicles. Additionally, the company is implementing an investment plan of €300 million for the purchase of exclusively zero-emission and low-emission vehicles in the next few years.
The CEO of Autohellas, Mr. Eftichios Vassilakis, stated: “Historically as a company, we invest in what drives us forward. We aim to expand our activities, specialize our people, and dynamically develop our vehicle fleet to offer innovative solutions and services to our customers. The issuance of the Common Bond Loan with which we are proceeding, will further support our development plan and our broader business strategy”.
Detailed information is provided in the Prospectus dated 11 January 2024 which is attached on the Company’s corporate website: https://www.autohellas.gr/en/investors/bond-loan/.
Joint Coordinators and Bookrunners of the Public Offering are the National Bank of Greece and Piraeus Bank. Lead Underwriters are Alpha Bank and Eurobank, and Underwriters are Attica Bank, Euroxx and Optima Bank. The Issue Advisor of the public offering is the National Bank of Greece.