ECONOMY

GEK Terna to proceed with borrowing up to 500 mln euros

gek-terna-to-proceed-with-borrowing-up-to-500-mln-euros

Listed group GEK Terna aims to complete the issue process for a seven-year bond up to 500 million euros by early July.

The revival of the economy has allowed for the reactivation of these plans that are considered essential for the implementation of the investment program for the coming years, concerning renewable energy sources and the construction of the new Iraklio airport.

The plan for a bond issue was announced in early March, but it had to be put on ice due to the lockdown. This obstacle is now lifted, while foreign investors’ and markets’ positive views of Greece are not only benefiting sovereign bonds but corporate ones too.