PPC: Bond issue breaks records with offers of 2 billion euros
At 500 million euros the amount that will be raised against an initial issue of 350 million euros. Interest rate estimates
Once again, PPC’s entry into the international markets with the issuance of a sustainability bond, is leading, as everything shows, to success.
This is noted by analysts at OT.gr just before the book of offers closes. According to information, the offers have already reached 2 billion euros and exceed six times the initial version of 350 million euros.
The result is, in combination with the interest rate, that PPC is proceeding, according to the same sources, to raise an amount of 500 million euros. The interest rate is expected to fluctuate close to the area of 3.5% to 3.75%, a satisfactory yield given that it is a bond with a sustainability clause of seven years.
The book of offers is expected to close at 13.30 Greek time.
The amount raised by the company is expected to be used to refinance an existing loan.