Greece-based refinery group Motor Oil has launched a series of investor meetings as it explores a potential 400 million euros bond issue aimed at refinancing debt maturing next year, according to a company announcement filed with the Athens Stock Exchange on Monday.

Subject to market conditions, the Greek energy group plans to issue up to 400 million euros in senior unsecured notes due in 2031. The company stressed that no assurance can be given regarding the final terms, size or completion of the transaction.

Motor Oil said proceeds from the proposed offering, together with existing cash reserves, would be used primarily to redeem in full its outstanding 400 million euros bond carrying a 2.125% coupon and maturing in 2026, including accrued interest, as well as to cover transaction-related fees and expenses. The notes are expected to be offered outside the United States under Regulation S of the U.S. Securities Act.

The move follows comments by Deputy Chief Executive Petros Tzanetakis during the company’s recent analyst briefing, when he said management was evaluating options for refinancing the 2026 eurobond. Tzanetakis described the eurobond market as an important source of financing for Motor Oil since 2013-14, providing access to capital beyond traditional bank lending while enhancing the group’s visibility among long-term institutional investors.

Motor Oil, one of Greece’s largest refiners and energy groups, has in recent years expanded beyond its traditional refining business through investments in renewable energy, electricity generation and energy-transition projects. The proposed bond issue would extend the maturity profile of its debt while maintaining the company’s presence in international debt markets, a financing channel management has repeatedly described as strategically important.