PPC Sells 700 Million Euro Bond
Today, Public Power Corporation confirmed a prosperous purchase of a 700 million euro senior note bond, in the international market.
The energy company sold a mix of bonds at 500 million euros, with a 2019 maturity and fixed 4.75% and 5.5% annual interest rates. The demand of the bonds was six times more than the required total, at 3.0 billion euros. Bond revenues will be administered to finance PPC's investment plans and repay current outstanding revenues.
The agency stated that it actually decreased its outstanding debt's interest rate by 50 basis points, due to the repayment of interest worth 450 million euros, within the refinancing arrangement of 2.2 billion euros worth of loans with Hellenic financial institutions.
Public Power Corporation recently reported that an international credit rating bureau upgraded its credit ranking by triple. Today's sale showcased PPC's financial stride.
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