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GEK-TERNA prepares the launch of a 120-million-euro bond



After the successfu launch of a 60-million euro bond last year, TERNA ENERGY and GEK-TERNA Group “strike” again. According to secure information, these days, a 120-million-euro bond is being prepared. At the moment, GEK-TERNA has submitted its final information bulletin which is expected to be approved by the Capital Market Commission. After that and depending on the date of the decision, registrations will start.

The desired interest rate is estimated at 4-4.25%. It is reminded that last year’s bond yields was set at 3.85%, similar to its interest rate. However, there is an optimism that this year’s bond will perform even better, after last year’s “green bond” success. According to company executives, these funds will contribute to the Group’s investment plan in multiple areas of its activity, ranging from constructions to energy, real estate as well as refinancing part of its loans.

Today the Group’s backlog is about 1.8bn euros, a significant part of which concerns the under-construction lignite-powered plant of PPC in Ptolemaida. This number is expected increase even more if we add in the pipeline Kastelli Airport in Crete and the PPP project for a new Waste Treatment Plant in Peloponnese, both of which will reach a stunning 1.3bn euros, propelling the total backlog of the Group at over 3bn euros. It is noted that more large-scale prospective projects could be added in the above-mentioned list (e.g. Athens Metro Line 4, Salamina Underwater Road Tunnel, Crete’s Northern Motorway Axis etc.).

The press release of the company, (dated 19.03): 

GEK TERNA pursuant to L. 3556/2007 and Regulation (EC) 596/2014, informs the investment community that, according to the meeting of its Board of Directors dated 16.03.2018, it resolved on the issuance of a common bond loan pursuant to L. 3156/2003 and C.L. 2190/1920, of a minimum amount of 90,000,000 up to a maximum amount of 120,000,000, the placement of the bonds through a public offering and their admission for trading on the Regulated Market of the Athens Exchange under the Fixed Income Securities segment.



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