PPC raises €600 mln from new bond issue

Greece's Public Power Corporation successfully completed the issuance of a new 7-year bond on Wednesday, attracting four times the initial target with an interest rate of 4.625%.

The total amount raised reached 600 million euros, surpassing the original goal of €500 million, with investor bids totaling €2 billion.

The majority of investors in the PPC bond are foreign, primarily long-term investors.

The funds will be directed toward investments by PPC and its subsidiaries as part of the group's development business plan, which includes €9 billion in investments over the next three years, primarily focused on renewable energy sources, network upgrades, and new initiatives.

The management aims for the PPC Group to achieve EBITDA of €3 billion from various activities to ensure resilience against any crises and to fulfill its vital role in the countries where...