Greek Public Power Corporation (PPC) has successfully completed the issuance of a new 7-year bond, raising €600 million, which significantly exceeded its initial target of €500 million. The bond attracted strong interest, with investor bids totaling €2 billion, four times the original goal, and the interest rate set at 4.625%.
The majority of the investors in this bond are foreign, primarily long-term investors. The funds raised will be allocated toward PPC and its subsidiaries as part of a comprehensive development business plan that includes €9 billion in investments over the next three years. This plan primarily focuses on expanding renewable energy sources, upgrading networks, and launching new initiatives.
PPC’s management aims to achieve an EBITDA of €3 billion from various activities, ensuring resilience against potential crises and reinforcing its critical role in the regions where it operates.
