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    PPC   GRS434003000

PUBLIC POWER CORPORATION S.A.

(PPC)
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Public Power S A : Pricing of €500 million Sustainability-Linked Senior Notes due 2028

07/14/2021 | 11:27am EDT

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

FOR IMMEDIATE RELEASE

14 July 2021

PUBLIC POWER CORPORATION S.A.

Pricing of €500 million Sustainability-Linked Senior Notes due 2028

Public Power Corporation S.A. ('PPC') announces today the successful pricing of its offering (the 'Offering') of €500 million aggregate principal amount of sustainability-linked, unsecured senior notes due 2028 (the 'Sustainability-Linked Notes' or 'Notes') at a coupon price of 3.375% and an issue price of 100%. The Notes will be issued pursuant to Article 59, paragraph 2 and Article 74 of Greek law 4548/2018 and Article 14 of Greek law 3156/2003 and will be governed by New York law. The proceeds from the Offering will be used to partially repay existing debt and to pay costs and expenses related to the Offering. PPC intends to have the Sustainability-Linked Notes listed on the Official List of Euronext Dublin and admitted to trading on the Global Exchange Market thereof, or on another appropriate trading venue in the European Union. The Offering is scheduled to settle on 21 July 2021, subject to the satisfaction of customary closing conditions.

Goldman Sachs Bank Europe SE and HSBC Continental Europe S.A. are acting as Joint Global Coordinators and Physical Bookrunners, Citigroup Global Markets Europe AG is acting 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. are acting as Joint Bookrunners in connection with the Offering. HSBC Continental Europe S.A. is also acting as Sustainability-Linked Bond Structuring Advisor.

PPC is the largest generator and supplier of electricity in Greece, as well as the sole owner of the electricity distribution network which is being operated by its 100% subsidiary Hellenic Electricity Distribution Network Operator S.A., providing electricity to approximately 6.1 million end-customers. For more than 70 years, PPC has been at the forefront of Greece's power industry and an integral part of the country's process of electrification. PPC is publicly listed and its shares are traded on the Main Market of the Athens Exchange with a market capitalization of approximately €2 billion as of 14 July 2021.

DISCLAIMER

NOTE: This announcement is published in accordance with the applicable provisions of, amongst others, Regulation (EU) No 596/2014, Law 3556/2007 and the Rule Book (Regulation) of the Athens Exchange, each as amended and in force.

THE NOTES WILL BE AVAILABLE ONLY TO INVESTORS WHO ARE NON-U.S. PERSONS PURCHASING THE SECURITIES OUTSIDE THE UNITED STATES IN OFFSHORE TRANSACTIONS IN RELIANCE ON REGULATION S ('REGULATION S') UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE 'U.S. SECURITIES ACT').

NOTHING IN THIS ANNOUNCEMENT CONSTITUTES AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO BUY SECURITIES IN THE UNITED STATES OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO. THE NOTES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION, AND THE NOTES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS OF OTHER JURISDICTIONS.

The Offering is not being made, directly or indirectly, to the public in the Hellenic Republic (Greece). None of this announcement and any other documents or materials relating to the Notes referred to herein constitute an 'offer of securities to the public' as defined in Regulation (EU) 2017/1129 (as amended, the 'Prospectus Regulation'), for the purchase, sale or exchange of, or otherwise for an investment in, securities in the territory of Greece. Accordingly, neither this announcement nor any other documents or materials relating to such Notes have been or will be submitted to the Hellenic Capital Market Commission for approval pursuant to the Prospectus Regulation. No offer of securities will be made in Greece other than in accordance with an exemption under the Prospectus Regulation and Law 4706/2020.

This document is not being distributed, nor has it been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000 (the 'FSMA') by an authorised person under the FSMA. This document is for distribution only to, and is only directed at, persons who (i) have professional experience in matters relating to investments (being investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the 'Financial Promotion Order')), (ii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Promotion Order, or (iii) are persons to whom an invitation or inducement to engage in investment activity within the meaning of Section 21 of the FSMA in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as 'relevant persons'). This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity relating to the Notes is available only to relevant persons and will be engaged in only with relevant persons.

MIFID II product governance / High net worth retail investors, professional investors and ECPs target market: Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients (each as defined in Directive 2014/65/EU (as amended, 'MiFID II')) and retail clients (as defined in MiFID II) that are in a financial situation to be able to bear a loss of their entire investment in the Notes; (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate; and (iii) the following channels for distribution of the Notes to such retail clients are appropriate - investment advice, portfolio management, non-advised sales and pure execution services - subject to the distributor's suitability and appropriateness obligations under MiFID II, as applicable. Any person subsequently offering, selling or recommending the Notes (a 'distributor') should take into consideration the manufacturers' target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels, subject to the distributor's suitability and appropriateness obligations under MiFID II.

For further information please contact:

Public Power Corporation S.A.

Investor Relations, e-mail: ir@dei.gr

Ioannis Stefos, IR Director

Telephone : + 30 210 529 2153

Fax : +30 210 523 0394

e-mail: i.stefos@dei.gr

Disclaimer

Public Power Corporation SA published this content on 14 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2021 15:26:04 UTC.


© Publicnow 2021
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Financials
Sales 2021 4 712 M 5 515 M 5 515 M
Net income 2021 110 M 128 M 128 M
Net Debt 2021 3 287 M 3 848 M 3 848 M
P/E ratio 2021 24,9x
Yield 2021 -
Capitalization 1 877 M 2 196 M 2 197 M
EV / Sales 2021 1,10x
EV / Sales 2022 1,16x
Nbr of Employees 13 190
Free-Float 39,0%
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Public Power Corporation S.A. Technical Analysis Chart | PPC | GRS434003000 | MarketScreener
Technical analysis trends PUBLIC POWER CORPORATION S.A.
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TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 5
Last Close Price 7,98 €
Average target price 13,32 €
Spread / Average Target 66,9%
EPS Revisions
Managers and Directors
Georgios Stassis Chairman & Chief Executive Officer
Alexandridis Konstantinos Chief Financial Officer
George Venieris Independent Non-Executive Director
Despina Doxaki Independent Non-Executive Director
Stephanos Theodoridis Independent Non-Executive Director
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