ATHENS, Oct 7 (Reuters) - Greece's biggest oil refiner Hellenic Petroleum said on Friday bondholders had tendered 296.4 million euros ($329.6 million) of bonds in response to its offer to buy back some outstanding debt maturing in May next year.
Last month, Hellenic offered to buy back part of its 490 million euros of outstanding 8 percent bonds due May 2017 for cash and said it would issue new five-year paper to finance the offer and repay outstanding debt.
Hellenic said it planned to accept the tendered notes subject to investor participation results in the new bond. Final results will be announced after pricing of the new bond.
Hellenic has set the yield of the new, 300 million euro bond at 5 percent, according to IFR.
$1 = 0.8994 euros Reporting by Angeliki Koutantou; Editing by Mark Potter