Investor Relations - 31.01.2018

Termination of the Tender offer to purchase up to €150,000,000 of outstanding €500,000,000 5.5% Senior Notes due 2019




Public Power Corporation S.A. (“PPC S.A.”) announces that its wholly-owned subsidiary Public Power Corporation Finance plc (the “Company”) announces that it terminates with immediate effect its offer to purchase up to an aggregate principal amount of €150,000,000 of its outstanding €500,000,000 5.500% Senior Notes due 2019 (the “Notes”) from holders of the Notes (the “Noteholders”) pursuant to its tender offer (the “Solicitation of Offers to Sell”) on the terms and subject to the conditions set forth in the tender offer memorandum dated 26 January 2018 (the “Memorandum”) and subject to the offer and distribution restrictions set out therein.

The termination of the transaction is unconditional and takes immediate effect.

The Solicitation of Offers to Sell was made as part of the Company’s liability management strategy. In light of the strong market conditions and the higher market price of the Notes, and in order to ensure a successful buyback, the Company terminates the Solicitation of Offers to Sell and intends to exercise its right to make an optional redemption of € 150,000,000 in aggregate principal amount of Notes at the price 101.375%.


This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to any securities. If any Holder is in any doubt as to the contents of this announcement, or the Memorandum, or the action it should take, it is recommended to seek its own financial and legal advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. The Dealer Manager and the Tender Agent do not accept any responsibility for the contents of this announcement.


Athens, January 31, 2018


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