It is expected that Greek Public Power Corporation (PPC) will approve a 200 million euros worth loan offered by the country’s four largest banks at an interest rate of 5.8 %.
This loan is intended to cover the payment of a 200 million euros bond set to mature in April. It was supposed to be obtained earlier this year, but a number of factors such as the proposed interest rate, the establishment of a special account absorbing PPC client payment and guarantees have slowed the progress of obtaining the loan.
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Tags: electricity, financial, Greece, loan, PPC