Banks reportedly agree to refinance PPC loans

The Public Power Corporation (PPC) has reached an agreement with five local banks for the refinancing of loans worth 525 million euros which had reached maturity.

However, the interest rate for the new loans is above 11.9 percent, according to reports. The private banks involved in the negotiation requested the participation of a public lender in order to seal the deal, according to Skai.

Taking part in PPC?s loan refinancing are Alpha Bank, Eurobank, Piraeus Bank, ATE Bank and the National Bank of Greece.

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