Sunday October 26, 2014 Search
Weather | Athens
17o C
13o 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)  
Nicosia says reforms are bringing results
TAIPED waits for green light from Eurostat
Trade deficit shrinks on big drop in imports
SMEs unable to claim subsidies
Samaras pledges action after flash floods in Athens
Authorities began on Saturday assessing the damage done by flash floods in various parts of Athens a day earlier, with Prime Minister Antonis Samaras pledging that all those affected would b...
No court hearings for civil cases
Greek courts are to stop conducting hearings, which include witness questioning, for civil cases, according to plans drawn up by the Justice Ministry. Kathimerini understands that in a bid t...
Inside News
BASKETBALL
A win is a win is a win for Olympiakos
A bad Olympiakos defeated a worse Laboral Kutxa 63-57 to make it two out of two in the Euroleague on Friday. In a game where the two teams had an overall field goal rate of about one in thre...
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
Inside Sports
COMMENTARY
End of reason, end of humanity
The effects of a slew of new and increased taxes introduced since the start of the crisis were first observed in the wages of those still fortunate enough to have jobs, who saw their take-ho...
EDITORIAL
Banks need to step up
What has been leaked so far regarding the results of the stress tests on Greece’s lenders, which are due to be published on Sunday, appears positive. Greece needs a healthy, private banking ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Nicosia says reforms are bringing results
2. Samaras pledges action after flash floods in Athens
3. No court hearings for civil cases
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. Future of Attica trash set to become clearer
6. Policeman admits to murder of his cousin-in-law
more news
Today
This Week
1. End of reason, end of humanity
2. Samaras pledges action after flash floods in Athens
3. Banks need to step up
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. No court hearings for civil cases
6. Nicosia says reforms are bringing results
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Greece must stick to reforms, says Schaeuble
4. At least 11 banks to fail European stress tests, three in Greece, report says
5. Cyprus to block Turkey's EU talks after EEZ violation
6. Stop moaning and get in the game
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.