Public Power Corporation (PPC) on Monday announced the issuance and offering of an aggregate principal amount of € 500 million of senior unsecured sustainability notes due 2026, subject to market conditions and demand.
The book building process will be open until Thursday, while the offering tour began on Monday. PPC has stated that the proceeds of the Offer will be used to repay existing debt, for general corporate purposes, and to pay fees and expenses related to the Offer. There can be no assurance that the Offer will be of the above or completed size.
PPC intends to have the Sustainability Notes listed on Euronext Dublin’s official list and to be admitted to trading on its Global Exchange Market or on another suitable trading venue in that country. ‘European Union. The return of PPC to the financial markets represents an important step for the company after the crisis. Its previous exit was in 2014 with a bond loan of 700 million euros, of which 500 million euros were raised with a five-year bond loan at an interest rate of 5.5%.