Τhe Greek Public Power Corporation (PPC/DEH) announced the signing of contracts for the securitization of arrears with PPC expecting to drain up to 325 million euros from the market.
The program, covered by contract claims has a duration of 5 years, including a two-year revolving period, and a three-year period for the repayment of these claims.
The interest rate of the transaction is set at 6.8%, while the total value of the arrears is estimated at 1.7 billion euros.
PPC drained 150 million euros from a previous securitization of arrears worth 260 million euros, through a transaction with an interest rate of 3.5%.
Public Power Corporation drained 775 million euros from a sustainability-linked bond issue with an interest rate of 3.875% for a sum of 650 million euros and an interest rate of 3.672% for the remaining 125 million euros.
