Zepos & Yannopoulos acted as Greek legal counsel to PPC S.A., the largest generator and supplier of electricity in Greece, on its international offering of €500 million 3.375% sustainability-linked senior notes due 2028 (the “Notes”).
The transaction is the second offering of a sustainability-linked instrument by a Greek company in the same year, marking another first for PPC.
The Notes are linked to enhanced sustainability goals – PPC aims to 57% CO2 emissions reduction by 2023 – and promote PPC’s constant efforts for the improvement of its economic, environmental and social impact. PPC intends to have the 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.
Goldman Sachs Bank Europe SE and HSBC Continental Europe S.A. 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 in connection with the Offering. HSBC Continental Europe S.A. also acted as Sustainability-Linked Bond Structuring Advisor.
The Zepos & Yannopoulos team was led by partners Christina Papanikolopoulou and Kely Pesketzi, assisted by senior associate Efthymis Naoumis.
Finance & capital markets partner Elena Papachristou advised on the ECM regulatory side, assisted by associate Vivian Efthymiou and energy & project development partner Sofia Chatzigiannidou advised on the energy regulatory considerations, assisted by senior associates Nikos Koukos and Smaragda Spyrou.
Tax advice was provided by partners Maria Zoupa and Daphne Cozonis and senior associate Ioanna Tapeinou.