Milbank Advises Motor Oil on Its €400M Bond Offering

Milbank LLP advised Motor Oil (Hellas) Corinth Refineries S.A. (“Motor Oil”) on its bond offering of €400 million 3.750% senior notes due 2026 (the “Offering”). The proceeds of the Offering have been used, together with cash on hand, to refinance Motor Oil’s €400 million 2.125% senior notes due 2026 and to pay fees and expenses incurred in connection with the Offering.

Motor Oil is a diversified energy group with operations across the energy value chain, with principal activities including refining, fuels marketing, electrification and circular economy activities. Motor Oil’s refinery is the largest in Greece by crude oil operating capacity and among the most complex in Europe with a Nelson Complexity Index of 12.61, producing a wide range of petroleum and petrochemical products, complemented by a large network of fuel stations across Greece, Cyprus and the Balkans.

The Milbank team was led by European Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis, special counsel James Simpson and associates Manel Mostefaoui and Andrew Wells.