Greece’s Public Power Corporation (PPC) will foray into the market by issuing a 500 million euro bond, with the offer scheduled to kick off on October 21st.
The company is set to issue senior notes—a type of bond that takes precedence over other debts if the company declares bankruptcy and is forced into liquidation—and will go on a roadshow with the note of a 500 million-euro nominal value to mature in 2031.
According to the relevant announcement, the yields from the offering called “Offering” will be used to finance ongoing capital expenditure projects by the country’s largest electric power company and those of its subsidiaries and cover the costs and expenses related to the offering.
There is no guarantee that the offering will be completed nor that the previously mentioned amount will be raised.
The company plans to list the bonds on the Euronext Dublin stock exchange for trading on its Global Exchange Market or on another suitable trading platform within the European Union.
The following banks and financial institutions will serve as the book-runners:
Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE, and HSBC Continental Europe are acting as joint Global Coordinators and Joint Bookrunners with BNP Paribas, Deutsche Bank, Nomura Financial Products Europe GmbH, Société Générale, along with Alpha Bank S.A., Eurobank S.A., National Bank of Greece S.A., Optima Bank S.A., Piraeus Bank S.A., Ambrosia Capital S.A., AXIA Ventures Group Limited, and Euroxx Securities S.A.
The PPC bond offering roadshow will commence on October 21, 2024.
Source: tovima.com
Latest News
Luxury Holiday Homes in Greece Surge in Demand
Trends regarding holiday homes in Greece, in recent years, are primarily driven by the significant demand of affluent clients who seek to buy more comfortable family homes
Majority of Greeks Over 50 Face Retirement Without Pensions
Most Greeks aged 50-74 do not receive any old age pension
SEV President to Call for Major Industry Investments and Clear Reforms
SEV’s president is also expected to emphasize the need for clear, streamlined licensing processes and structural issues that hinder the industry
US Government Says North Korea Sent Troops to Russia
North Korea has sent 3,000 troops to Russia for possible deployment in Ukraine, according to to US government official
IMF: Greece’s Public Debt to Drop Nearly 30% Points by 2029
The forecast was included in the D.C.-based Fund’s Fiscal Monitor report on global fiscal developments
Greek Shipping Remains Global Leader
The Greek-owned fleet, comprising 4,992 ships with a total carrying capacity of 394,977,181 dwt, maintains the top global position
AIA and Fraport to Invest €3bln to Expand Passenger Capacity
Athens International Airport (AIA) is expected to experience further expansion in flight operations in 2025 from the United States
Greece: Bread Prices Up 39% Since 2020, Still 2nd Cheapest in Europe
The cost of half a kilo of fresh bread in Greece is the second lowest in Europe and 48% lower than the European average, standing at €1.21.
Greece’s Tax Authority Plans Digital Property File to Find Vacant Properties, Undeclared Rental Income
As Greeks continue to struggle to find affordable and suitable housing, Greece's tax authority is taking steps to determine the true scale of vacant properties that could become available on the market through the creation of a digital property file.
2024 Tax Competitiveness Index: Greece 27th of 38 OECD Countries
The country remained in the same spot from last year's list and is sandwiched between Belgium (26th) and Denmark (28th). For the 11th year in a row, Estonia ranked 1st on the Index