News
07 July 2020
EBRD invests €57.5m in GEK TERNA’s bond issuance in Greece
In:
Renewable energy, Traditional energy
Region:
Europe
The European Bank for Reconstruction and Development is investing €57.5 million in GEK TERNA’s issuance of a seven-year €500 million bond to help the Greek private sector cope with the impact of the coronavirus crisis.
The issuance from the Greek holding company is the largest bond transaction to be listed to date on the Athens Stock Exchange and the first corporate issuance in the country since the outbreak of the coronavirus pandemic.
The proceeds of the bank's subscription will be used to refinance secured commercial loans with longer tenors and reduced financing costs. Funds will also support new and/or existing investments in concession, infrastructure and energy projects.
