BUSINESS

PPC strikes loan refinancing deal with banks adding extra terms

CHRYSSA LIAGGOU

TAGS: Energy, Banking

The agreement between Public Power Corporation (PPC) and its creditor banks for the refinancing of its 1.3-billion-euro loan expiring in May 2019 has been drawn up with additional terms and guarantees.

Next week the deal is expected to be ratified by the approval committees of the four systemic banks to pave the way for the signing of the agreement with PPC.

Among the terms are regular payments of tranches of 400 million euros and clauses for extraordinary payments from the sale of assets such as the upcoming concession of the lignite plants at Florina and Megalopoli, as well as from the collection of overdue bill payments.

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