GEK Terna is proceeding with the issuance of a joint bond loan – linked to a sustainability clause – from 200 to 300 million euros and a duration of seven years.
According to a corporate announcement “the Board of Directors of the Company at its meeting of November 29, 2021 decided to issue a joint bond loan linked to a sustainability clause, amounting to up to 300,000,000, with a minimum amount of 200,000,000, with a duration of seven (7) years, in accordance with the provisions of Law 4548/2018, as in force, and those provisions of Law 3156/2003 that remain in force after the entry into force of Law 4548/2018 (the “Bond Loan”), the disposal of the bonds of the Bond Loan (the “Bonds”) through a public offering to the investing public in Greece (the “Public Offer”) and the listing of the Bonds to be traded in the Fixed Income Class of the Regulated Market of the Athens Stock Exchange, provided that the conditions markets are appropriate “.
The Bond Loan will be issued based on the Bond Framework Related to the Company’s Sustainability Clause (the “Framework”), which was approved and adopted by the Company’s Board of Directors at the same meeting and will be available on the Company’s website: www.gekterna.com, and will provide for the increase of the Bond Loan interest rate by 0.20%, in case of non-achievement by the Company of the Sustainable Performance Objective, as specified in the Framework, as well as in case of inappropriate publication by the Company and verification by a certified external expert of the information to be made public under the Framework.
Further information on the Company, the terms of the Bond Loan and the Public Offering will be included in the Bond Loan Program and in the Prospectus drawn up under Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, of the Authorization of Regulations (EU) 2019/979 and 2019/980 of the Commission of 14 March 2019, as well as Law 4706/2020, as in force (the “Prospectus”), for the approval of which by the Hellenic Capital Market Commission and the available, the investing public will be informed with a new announcement.
The schedule of the issuance of the Bond Loan and the Public Offering of the Bonds will be formed in the near future, depending on the conditions prevailing in the stock markets. The Company will inform the investing public, in accordance with the current legislation, regarding the issuance of the Bond Loan with its next announcements.
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Source From: Capital
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