With respect to an article of today’s electronic press, which among other, mentions that “For the current year and for 2017, PPC has to refinance debt maturities close to € 1.5 bln”, PPC clarifies the following for the accurate information of the investor community:
- Regarding the Parent company, PPC S.A., the remaining debt maturities for 2016 (1.10.2016-31.12.2016) amount to € 147 m (excluding an overdraft facility of € 30 m), whereas, PPC S.A. has already repaid € 235 m of debt in 2016. Debt maturities in 2017 amount to € 640 m, thus including the remaining maturities of 2016 this sums up to € 787 m, not to € 1.5 bln, as mentioned in the article. With respect to the € 200 m bond which matures in 2017, PPC has taken all necessary measures and will proceed with its repayment. Of course depending on market conditions PPC will also examine the possibility of refinancing through a new issuance. In general, the Company is systematically monitoring and examining all available alternative sources of funding.
- In addition, IPTO S.A. is in advanced negotiations with the Greek banks in order to refinance total debt of € 337 m.
Athens, October 5, 2016
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