Investor Relations - 23.07.2020

Information to investors community

Announcement

 

Following a question by the Hellenic Capital Market Commission, regarding articles in both daily and electronic press for securitization of receivables, PPC S.A. announces that, on 22.7.2020, the Board of Directors approved, in principle, the basic terms of the securitization transaction for overdue receivables over 90 days. The amount of the transaction will range from € 300 m to € 350 m. with interest rate 6.8% and eligible receivables are estimated at € 1.7 bln. Arranger of the transaction is Deutsche Bank, with PIMCO as investor. The group of participating investors will be finalized at the financial close.

 

This approval follows the recent approval of the basic terms for the securitization transaction for receivables up to 60 days, with the transaction amount ranging from € 200 m to € 250 m., interest rate 3.5% and eligible receivables estimated at € 260 m. Arranger of the transaction is Finacity with JP Morgan as investor.

 

It is noted that the project for securitization of receivables started in November 2017.

 

PPC will proceed to an announcement after the finalization of the contractual documents and the financial close of the transaction.

 

Athens, July 23, 2020

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