ECONOMY

Huge interest in Mytilineos bond

huge-interest-in-mytilineos-bond

Athens-listedMytilineos SA said on Thursday a book-building process for a 500-million-euro green bond was four times oversubscribed and the interest rate of the issue was set at 2.25%.

The company said that Greek and foreign investors’ bids totaled €1.8 billion for the five-and-a-half-year bond issue. The company said the proceeds from the green bonds will used primarily to fund its investment program, focusing on renewable energy sources and investments in the cyclical economy and particularly the production of “green” aluminium.

The book-building process remained open for less than 24 hours while a roadshow on the issue lasted two days.