ECONOMY

PPC raises additional 125 mln euros from reopening 5-year bond issue

ppc-raises-additional-125-mln-euros-from-reopening-5-year-bond-issue

Greece’s public power utility, Public Power Corporation, on Monday announced the successful completion of a reopening of a sustainability-linked bond issue raising 125 million euros.

The interest rate of the issue fell to 3.672 pct from 3.875 pct of the initial issue last week (PPC raised 650 million euros from the market). 

In an announcement, PPC said that the book-building process attracted significant interest during the three-hour operation with the initial asked sum of 75 million euros oversubscribed by 4.5 times.

In total, PPC raised 775 million euros from the five-year bond issue.