We are proud to have advised JPMorgan Chase Bank in its capacity as investor in the first ever utilities receivables securitisation in the Greek market. The securitisation was launched by Public Power Corporation S.A. (PPC), Greece's incumbent electricity supplier, as originator, servicer and subordinated investor. The transaction provides PPC with funding of up to €200 million and finances performing consumer and corporate energy receivables up to 60 days past due. PPC is the largest electricity supplier in Greece — with a market share of approximately 66% — and is listed on the ATHEX.
The Zepos & Yannopoulos team was led by Christina Papanikolopoulou, head of the Finance & Capital Markets group, assisted by associate Athina Palli; the team was complemented by of counsel Kitty Fragalexi and associate Sofia Vestaki. Partners Maria Zoupa and Daphne Cozonis advised on tax matters.