PPC sustainability linked bond (EBRD-52707)

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
Active
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 10, 2021
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
PUBLIC POWER CORPORATION 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)
Fund
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 59,767.08 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 EUR 50,000,000.00
Converted using 2021-03-12 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 20, 2021

Disclosed by Bank Mar 12, 2021


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Project Description

According to the bank website, PPC sustainability linked bond is a  sustainability linked bond ("SLB") investment of EUR 50 million in Public Power Corporation S.A. (the "Company" or "PPC"), the Greek state-owned energy utility. The Project is envisaged to entrench and accelerate PPC's ambitious decarbonization pathway transforming it from a heavily coal-dependent to a green and sustainable utility. It is also the first SLB in the Bank's countries of operation and one of the first by any European issuer in the high yield space, which is to have a broader demonstration effect in the region.

 

 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Ioannis Stefos
i.stefos@dei.com.gr
+30 210 529 2153

 

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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