Greece's PPC Raises €775 Million Through Five-Year Green Bond Offering
PPC intends to list the bonds on the Global Exchange Market of Euronext Dublin, or another suitable European trading venue, with settlement expected on October 24, 2025, subject to customary closing conditions. Greece's Public Power Corporation (PPC) has raised €775 million through the issuance of a five-year green bond with a two-year call option, offering a coupon of 4.25%. The transaction marks another step in the utility's ongoing effort to strengthen its balance sheet and advance its green investment program. The new senior unsecured notes, due in 2030, were issued at par and will be governed by New York law. According to PPC's announcement, proceeds from the offering will be used primarily to redeem an equal amount of sustainability-linked senior notes maturing in 2026. The remainder will go toward transaction costs. The company also plans to allocate an amount equivalent to the net proceeds to finance or refinance eligible...
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