GEK TERNA bond 2020 (EBRD-51882)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 25, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GEK TERNA SA
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 62.61 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 62.61 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 57.5
Converted using 2020-03-25 exchange rate.
Project Cost (USD)
$ 544.45 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 500
Converted using 2020-03-25 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 13, 2020

Disclosed by Bank Jul 6, 2020


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Project Description

The EBRD invested EUR 57.5 million in the EUR 500 million senior unsecured bond issued by GEK TERNA S.A. The bond is listed on the Athens Stock Exchange and is maturing in 2027. The participation comes under the Greek Corporate Bonds Framework - Extension. As part of the Framework, the Project aims to support the development of the local corporate bond market in Greece and facilitate the access of Greek corporates to the debt capital markets. 

Investment Description
Private Actors Description

GEK TERNA S.A. is the holding company for a group active in concessions, renewable energy, thermal energy and construction, incorporated in Greece. It is listed on the Athens Stock Exchange.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - GEK TERNA Client -

Contact Information

Christos Simos
csimos@gekterna.com
+30 210 6968000
+30 210 6968099
http://www.gekterna.com/
85 Mesogeion Ave., Athens 11526, Greece 

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.