By K. Deligiannis
Public Power Corp. (PPC) is expected to issue a corporate bond of between 400 to 500 million euros within the first quarter of 2019, according to reports.
Based on statements by high-ranking executives of Greece’s dominant electricity utility, only procedural matters are pending before the bond is floated, with the process having begun last September.
The same sources said the most likely prospect is a listing on the London Stock Exchange, with contacts to date with prospective institutional investors reportedly assessed “positively”.
The state-run utility, once the country’s absolute power monopoly, horizontally and vertically, aims to drain financing from the markets in order to restructure a 350-million-euro bond maturing in April 2019.
