GEK TERNA: From 2.30% to 2.70% the bond yield

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GEK TERNA announced that the yield range of the 7-year bond, with a sustainability clause of up to 300 million euros, is between 2.30% – 2.70%.

The public offering will start tomorrow, December 8, and will last until December 10, while on December 15, the trading of the bonds on the Athens Stock Exchange will begin.

As noted in the announcement:

The determination of the yield and the interest rate of the Bonds (hereinafter the “Interest Rate”), will be done through the process of the book Building (“Book Building”), which will be kept by the Coordinators Principal Contractors, and will be carried out through the process H .ΒΙ.Π. in which only Special Investors participate.

Further, the Interest Rate and the final yield will be determined by the Coordinators Principal Contractors, with the HBIP process, according to the specific provisions of the Prospectus, will be approved by the person authorized by the Board of Directors of the Issuer and will be announced on the Company’s website and on the website of the Athens Stock Exchange no later than the next working day after the Public Offering period.

The yield range determined by the Coordinators Principal Contractors and within which the Special Investors will submit the Coverage Applications is as follows:

The final yield and the Interest Rate will be notified to the Hellenic Capital Market Commission and will be published on the Website of the Issuer and the ATHEX. no later than the next working day after the completion of the Public Offer.

The criteria and conditions on the basis of which the final yield and the Interest Rate will be determined include the conditions of the bond market, the amount of demand per yield from Special Investors, the number and type of Special Investors, the amount of demand from Private Investors ( to the extent that the final distribution to them exceeds the minimum allocation rate of 30%) and the cost of servicing the bond issue that the Issuer intends to undertake.

Indicatively, if the demand from Special Investors covers the Issue up to the ceiling of the yield range but at the same time covers a significant part of the Issue at a lower yield level, the lowest yield may be selected, even if this results in a lower amount of raised capital. and subject to the coverage of the condition for the issuance of the Bonds.

Simultaneously with the determination of the final yield, the final distribution of the Bonds will be decided. In any case, the Interest Rate will be set within the announced binding yield range. The Interest Rate and the Offering Price will be common for all investors, Special Investors and Private Investors, who will participate in the offering of Bonds with Public Offering.

Within two (2) working days from the end of the Public Offer, the Coordinators, Main Contractors, will issue a detailed announcement on the outcome of the Public Offer, including the Interest Rate, which will be published in the ATHEX Daily Price Bulletin. Detailed information on the final yield and the Interest Rate is provided in section 4.3.3 “Determination of the Final Rate and Interest Rate of Bonds with Public Offering through a Bid Book” of the Prospectus.

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