Friday November 21, 2014 Search
Weather | Athens
18o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece’s public power marketing bonds in first sale since 2000

Public Power Corp SA, Greece’s largest electricity company, is returning to the bond market for the first time since 2000 as recovery takes hold in the nation that set off the euro region’s debt crisis.

PPC is raising 500 million euros ($690 million) from senior notes to refinance debt, a person familiar with the matter said. The Athens-based utility is the first non-financial Greek company to sell bonds in Europe this year, according to data compiled by Bloomberg.

Confidence is returning to Greece after the government ended a four-year exile from international markets on April 10, issuing 3 billion euros of bonds in a sale that saw demand exceed supply by almost seven times, according to Greek Prime Minister Antonis Samaras. The country’s economy is set to grow 0.6 percent this year, Finance Minister Christos Staikouras said on Wednesday, the first expansion in seven years.

“Greece was the poster child for the sovereign crisis and it’s back,” said Juan Esteban Valencia, a strategist at Societe Generale SA in Paris. “It’s a vote of confidence in the work that’s been done there, but mostly, it’s the fact that people are really desperate to look for yield.”

PPC is selling three-year bonds that may be priced to yield 4.75 percent to 5 percent, and five-year bonds to yield 5.5 percent to 5.75 percent, according to the person with knowledge of the deal. The securities may be rated B, or five levels below investment grade, by Standard & Poor’s.

[Bloomberg]

ekathimerini.com , Wednesday April 30, 2014 (12:04)  
Gas hub set to form in Greece as supplies converge, Depa says
Greece submits 2015 budget with troika talks still at impasse
Israel backs East Med pipeline project
Cosco’s Greek unit adds multinational rail-freight client
Venizelos, Simitis hold ´good and substantial´ talks
Ongoing political and economic developments were at the focus of talks Friday between deputy Prime Minister Evangelos Venizelos and former Prime Minister Costas Simitis. “We had a good and s...
Protesting students scuffle with police outside Education Ministry
At least one student was detained Friday during a tense protest rally against the government's education reforms. About 1,500 students, parents and teachers gathered outside the Education Mi...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japan’s image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Give Greece a chance
Greece's creditors are testing the country's endurance - again. If they keep pressing, they could split the euro area apart, which would be a disaster for them as much as for Greece. They ne...
COMMENTARY
‘Who lost Greece?’
If, by unhappy chance, Greece’s efforts to create a more efficient economy and more just society should fail, if it turns out that all our sacrifices were in vain, who will be to blame? The ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Gas hub set to form in Greece as supplies converge, Depa says
2. Greece submits 2015 budget with troika talks still at impasse
3. Venizelos, Simitis hold ´good and substantial´ talks
4. Protesting students scuffle with police outside Education Ministry
5. Riot at Korydallos prison brought under control
6. ECB leaks maligning Cyprus aid may harm euro, ex-governor says
more news
Today
This Week
1. Cosco’s Greek unit adds multinational rail-freight client
2. Give Greece a chance
3. No breakthrough after marathon conference call
4. Israel backs East Med pipeline project
5. Greece says EU/IMF lenders disagree with 2015 budget deficit estimate
6. Education Ministry mulls over introducing Albanian language classes
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Constructively disrupting the Greek start-up ecosystem: What will the impact be?
4. Anti-junta uprising anniversary to be marked amid tight security
5. Biden heads to Istanbul amid tension over Cyprus EEZ violation
6. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.