ECONOMY

EBRD backs Mytilineos eurobond issue

ebrd-backs-mytilineos-eurobond-issue

The European Bank for Reconstruction and Development (EBRD) said on Friday it had invested 45 million euros ($49.6 million) or 9 percent in Greek industrial group Mytilineos’ 500 million eurobond offering.

Mytilineos is active in the metallurgy, power, and engineering sectors.

The EBRD started investing in Greece on a temporary basis in 2015 to support the country’s economic recovery.

The bank has invested over 3 billion euros to date in more than 50 projects in the corporate, financial, energy and infrastructure sectors of Greece’s economy.

Mytilineos mandated Citigroup, HSBC and JPMorgan as joint bookrunners for the 5-year, 2.5 percent fixed-coupon senior notes maturing in December 2024. 

[Reuters]