PPC intends to list the bonds on the Global Exchange Market of Euronext Dublin, or another suitable European trading venue, with settlement expected on October 24, 2025, subject to customary closing conditions.
Greece's Public Power Corporation (PPC) has raised €775 million through the issuance of a five-year green bond with a two-year call option, offering a coupon of 4.25%. The transaction marks another step in the utility's ongoing effort to strengthen its balance sheet and advance its green investment program.
The new senior unsecured notes, due in 2030, were issued at par and will be governed by New York law. According to PPC's announcement, proceeds from the offering will be used primarily to redeem an equal amount of sustainability-linked senior notes maturing in 2026. The remainder will go toward transaction costs. The company also plans to allocate an amount equivalent to the net proceeds to finance or refinance eligible green projects, in line with its Green Finance Framework, which supports its transition toward cleaner energy generation and infrastructure.
PPC intends to list the bonds on the Global Exchange Market of Euronext Dublin, or another suitable European trading venue, with settlement expected on October 24, 2025, subject to customary closing conditions.
The deal was jointly coordinated by Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE, and HSBC Continental Europe, which acted as Global Coordinators and Joint Bookrunners. The syndicate also included BofA Securities Europe SA, BNP Paribas, Deutsche Bank AG, Morgan Stanley Europe SE, Nomura Financial Products Europe GmbH, Société Générale, UniCredit Bank GmbH, and several Greek banks and financial institutions.
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