PPC gets ini­tial ap­proval for loan

Kathimerini English - - Focus -

Pub­lic Power Cor­po­ra­tion has se­cured ini­tial ap­proval for a 200-mil­lioneuro syn­di­cated bond loan from the coun­try’s main lenders, it said yes­ter­day. Un­paid bills that have been grow­ing since Greece im­posed a bailout-sub­scribed prop­erty tax in 2012 have eaten into PPC’s profit and squeezed cash re­serves. The new credit fa­cil­ity will be ex­tended by Na­tional Bank, Pi­raeus Bank, Eurobank, Al­pha Bank and At­tica Bank and will help PPC re­pay sev­eral obli­ga­tions due later in the year. PPC, which is 51 per­cent-owned by the state, has a 200-mil­lion-euro bond due at end-April. It also has sev­eral coupon pay­ments to­tal­ing 340 mil­lion eu­ros due by the end of the year. The banks

ATH-SIN. Scoot, the low-cost car­rier owned by Sin­ga­pore Air­lines, yes­ter­day an­nounced that from June 20 it will start di­rect flights link­ing Athens with Sin­ga­pore four times a week on Boe­ing 787-8 Dream­lin­ers, of­fer­ing con­nec­tions to 39 other des­ti­na­tions. Tick­ets start from 180 eu­ros.

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