Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Greek’s PPC gets 200 million euro (£169.41 million) loan to repay debt

Greece’s main power utility Public Power Corp. (PPC) has secured a 200 million euro (£169.41 million) bond loan from the country’s main lenders to refinance debt, it said on Tuesday.

Unpaid bills, which have reached 2.2 billion euros (£1.87 billion) since a debt crisis engulfed Greece in 2010, have squeezed PPC’s cash reserves. The two-year loan will help the utility repay a bond of similar size that matures on May 1.

PPC, which is 51 per cent owned by the state, also has several coupon payments totalling 340 million euros (£289.02 million) that fall due by the end of the year.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.