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PPC, Greece's largest public power company, sold 200 million euros of outstanding bills

 Last Update: 2023-01-03
 Source: Internet
 Author: User

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Greece's largest power company, Public Power Corporation (PPC), said on Wednesday it had completed a deal to sell unpaid notes to investment bank JP Morgan, which would raise about 200 million euros ($235 million).

PPC is struggling due to Greece's decade-long debt crisis, with Greeks owing around €2.
7 billion in electricity bills
.

Reuters reported in June that PPC, which is 51 percent owned by the state, was about to sell the notes
.

PPC said in a stock filing on Wednesday that it had signed a contract to sell notes
that were within 60 days of maturity.

PPC said last month it had finalized the securitisation conditions for a second tranche of notes worth 1.
7 billion euros with more than 90 days overdue in search of raising between 300 million and 350 million euros
.

electricity

PPC is struggling due to Greece's decade-long debt crisis, with Greeks owing around €2.
7 billion in electricity bills
.

Reuters reported in June that PPC, which is 51 percent owned by the state, was about to sell the notes
.

PPC said in a stock filing on Wednesday that it had signed a contract to sell notes
that were within 60 days of maturity.

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