Auction rally It reached 2 billion euros, which is 4 times more than the initial planShe collected her book PPC It issued a new 7-year bond today Markets. Leading Greek company Energy Finally “took it”. 600 million eurosThe amount increased relative to the initial target of 500 million.
According to stock market sources Most investors in PPC bonds are foreign, mainly long-term investorsThe coupon was finally set at 4.625% (from 4.75%).
“It is a vote of confidence of the markets on the company,” stock market sources said. The cheapest European 7-year interest rate offered by a company with the same credit rating as PPC from February 2022.
Other sources add to that PPC’s bond spread is the lowest among all bonds issued by the company since 2020. (200 bp less than the 2020 and 2021 versions).
target
Sources close to the company said PPC “entered markets with the aim of being Regular publisher in international markets”, without one needing to refinance Bond. After all, the two bonds it has already issued expire in 2026 and 2028 They will trade concurrently with a new third bond issued today that matures in 2031. The New Bond will be governed by New York law.
Sources close to the stock market commented that the quality and quantity of offerings on PPC’s book show “the confidence of investors who have chosen to finance the new PPC bond with the new additional liquidity”.
PPC achieved the cheapest European 7-year interest rate offered by a company with the same credit rating from February 2022.
PPC wants to introduce bonds Euronext Dublin Stock Exchange to trade on its Global Exchange market or another suitable trading venue in the European Union. This offer ends on October 30, 2024Subject to the fulfillment of customary conditions to the completion of such transactions.
Where does the money go?
600 million euros will be used. As “H” wrote yesterdayFor investments in PPC and its affiliates in context Group development business plan. Since this year’s Capital Markets Day in London, PPC has announced a strategic investment plan of €9 billion over three years, mainly RESNetwork upgrade and new functions. These are 130% increased investments compared to the three years 2021-2023.
Her forward-thinking business plan Largest energy company in Southeast Europe (PPC Group is now, after entering the Romanian market) based on a holistic approach Green shift and tripartite clean energy production, modern networks and a customer-centric philosophy.
The purpose of his administration Georgos StasisAs announced in the past, the BBC Group is An energy leader in the wider region and a major player in EuropeWith healthy finances and comprehensive services. A “green” group will have an EBITDA of 3 billion euros from various activities in 2030, so that it can overcome any crisis and respond to its important role in all the countries in which it operates.
Notification to Stock Exchange
View the full PPC announcement for the Athens Stock Exchange here
Public Electricity Company S.A. (“PPC”), a leading energy company in Southeast Europe, rated ‘BB-‘ with a stable outlook by Standard & Poor’s and Fitch, today announces the successful pricing of an offering (the “Offering”) of a class of senior unsecured notes (the “Senior Notes”). ), due 2031. The total nominal value to be paid is €600 million (the “Notes”), the interest rate is 4.625% and the issue price is 100%.
The offer, with a nominal value of €600 million, represents an increase of €100 million from the initial proposed offer of a total nominal value of €500 million announced on Monday, October 21, 2024. Notes shall be governed by New York law.
The proceeds from the offering will be used to fund the ongoing capital expenditure programs of BBC and its subsidiaries and to pay the costs and expenses of the offering.
PPC intends to list the securities on the Euronext stock exchange in Dublin for trading on its global exchange market, or another suitable trading venue in the European Union. The offer is expected to settle on October 30, 2024, subject to customary closing conditions for such transactions.
Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE and HSBC Continental Europe act as joint international coordinators and lead book managers, and BNP PARIBAS, Deutsche Bank Aktiengesellschaft, Nomura Financial Products Europe GmbH, Société, Générale.A. , National Bank of Greece SA, Optima Bank SA, Piraeus Bank SA, Ambrosia Capital Monoprosopi SA, AXIA Ventures Group Limited and Euroxx Securities AEPY are acting jointly as joint book-running managers.
PPC is a leading energy company and critical infrastructure operator in Southeast Europe, operating primarily in Greece and Romania.
For more than 70 years, PPC has been at the forefront of Greece’s energy sector and an integral part of the country’s electrification. It is the largest electricity producer and supplier, supplying electricity to about 5.6 million end customers as of June 30, 2024.
It also owns 51% of Hellenic Electricity Distribution Network Operator SA, the sole owner and operator of the country’s electricity distribution network.
In Romania, PPC is the largest energy supplier and the second largest electricity distribution network operator, providing energy to approximately 3.2 million end customers as of June 30, 2024. PPC is a listed company and its shares are traded on the primary (regulated) market of the Athens Stock Exchange on June 30, 2024 with a capital of approximately €4.3 billion.
