With particularly strong interest from the investment market, the order book opened today for the new **bond** of **Metlen**, with initial pricing forming around 4.25%. As had been announced since last Monday, the company is proceeding with the issuance of Senior Unsecured bonds, under Regulation S (Category 1), with a duration of 5.5 years. The issuance is expected to receive a BB+ rating, aligned with the BB+ and stable outlook that Metlen itself maintains.
The settlement date has been set for November 26, 2025. The order book is expected to close within the day, with demand being closely monitored by the banks operating as Joint Bookrunners: Alpha Bank, BofA Securities, Barclays, Eurobank, Goldman Sachs Bank Europe, IMI–Intesa Sanpaolo, J.P. Morgan, National Bank of Greece, Optima bank, Piraeus Bank and Societe Generale.
Metlen’s objectives
It is reminded that Metlen Energy & Metals PLC and its subsidiary had announced the start of the process for a proposed bond issuance of €500 million, maturing in 2031. The offering – also Senior Unsecured and guaranteed by the parent company – was designed to target fixed income investors in Europe, under the guidance of BNP Paribas, Citigroup, HSBC and Morgan Stanley.
Metlen’s goal was to refinance existing debt and strengthen its financial flexibility, with the process being conducted through Regulation S and accompanied by a roadshow. The company, with BB+ (Stable) ratings from S&P and Fitch, had emphasized that the issuance does not target Greek investors and that completion of the offering depends on market conditions.
Additionally, according to the MiFID II framework, the bond placement is exclusively targeted at professional investors, eligible counterparties and high net worth individuals, with clear warnings regarding investment risk and the possibility of complete capital loss.
