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.
