By K. Deligiannis & E. Sakellari
Greece’s four systemic banks are reportedly pressing to receive some two-thirds of the money that the Public Power Corp., the state-run and dominant power utility in the country, will receive from selling-off three lignite-fired stations and the license for a fourth.
In return for lessening PPC’s obligations to the banks, creditors will then reportedly approve a wide-ranging refinancing of the utility’s debts, and specifically a syndicated loan worth 1.3 billion euros that matures in April 2019.
PPC disclosed last February that it was in “advanced” negotiations over such a refinancing scheme.
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