Zepos & Yannopoulos has advised PPC S.A., the largest generator and supplier of electricity in Greece, on its inaugural international offering of EUR 650 million 3.875% sustainability-linked senior notes due 2026.
HSBC Continental Europe S.A. and Goldman Sachs Bank Europe SE acted as joint global coordinators and physical bookrunners, Citigroup Global Markets Europe AG acted as joint global coordinator and joint bookrunner, and Alpha Bank S.A., Ambrosia Capital Ltd, AXIA Ventures Group Limited, Credit Suisse Securities, Sociedad de Valores, S.A., Eurobank S.A., J.P. Morgan AG, National Bank of Greece S.A., and Piraeus Bank S.A. acted as joint bookrunners. HSBC Continental Europe S.A. also acted as sustainability-linked bond structuring advisor.
According to Zeya, “the transaction, an offering in reliance on Regulation S under the US Securities Act, records two market firsts, both in terms of structure, being the first direct issuance by a Greek company to the international capital markets, and in terms of product, being the first sustainability-linked instrument offered by a Greek company. The notes are linked to sustainability goals and promote PPC’s constant efforts for the improvement of its economic, environmental and social impact.”
Zepos & Yannopoulos’s team was led by Partner Kely Pesketzi and Senior Associate Efthymis Naoumis and included Partners Elena Papachristou, Sofia Chatzigiannidou, Maria Zoupa, and Daphne Cozonis, and Senior Associate Ioanna Tapeinou.
Zepos & Yannopoulos did not reply to our inquiry on the matter.