Announcement
Regarding comments in a press article which was published today with respect to:
- First, for IPTO, PPC does not comment on the assumptions and the relevant figures mentioned by the author of the article, but for the accurate information of the investor community, provides the following figures:
The total equity of IPTO as of 30.6.2016 amounts to € 1.035 bln.
The investment of PPC in IPTO amounts to € 916.4 mln
As already announced, the highest bid for the sale of 24% of IPTO’s share capital amounted to € 320 mln.
- Second, with respect to the comment of the author of the article that there are no financing sources available, PPC informs that the available credit lines for the Group currently amount to € 980 mln, out of which € 624 mln relate to the construction of the “Ptolemais V” lignite unit.
- Third, with respect to comments on the yield of the five year bond maturing in 2019 and its association with the cost of debt, PPC clarifies that the yield of the 2019 bond has ranged, since its issuance, between 4.6% and 24.8%. From this highest level recorded on 7/7/2015, it has followed a declining trend and it stood at 12.6% on 26/10/2016.
During this period, 2014-2016, the weighted average financing cost from banking institutions was stable at approximately 5%.
Athens, October 27, 2016