The Athens Stock Exchange welcomes TERNA ENERGY - Corporate Bond Listing
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| 24 July 2017 | |||
| The Athens Stock Exchange welcomes TERNA ENERGY | |||
| Corporate Bond Listing | |||
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The Athens Stock Exchange welcomed today company TERNA ENERGY FINANCE (member of the TERNA ENERGY Group which is also guarantor of the issue), in the context of the listing and admission to trading of its Corporate Bond, the sixth corporate bond to be listed in the Stock Exchange market this year.
Today's event at the Athens Stock Exchange was opened by Vasilis Delikaterinis, Chairman of the company and CFO of the Group and Aristotelis Spiliotis, CEO of the company and Deputy CFO of the Group.
Iakovos Georganas, Chairman of the Athens Exchange Group, noted: "All market stakeholders must focus on the effective functioning of the secondary bond market, ensuring that the potential it has shown to date will be remain strong in the future. A properly functioning secondary market will not allow anyone who decides on divestiture to be disappointed. An investor's decision to exit a specific placement at a fair price must be supported."
In closing his short address, Mr. Georganas underlined: "The accumulation of bond maturities in the same time frame must be avoided. The success of this market creates a need for serving a larger volume of bonds. In order for investors and companies to smoothly follow the issue and reissue procedures, all market participants ought to take steps for the escalation and allocation of maturities over time."
Vasilis Delikaterinis, Chairman of the company and CFO of the Group, thanked everyone who participated in the bond issue project, and in particular the investors who supported the issue. He further pledged that all promises made in relation to the issue will be upheld.
Haralambos Gotsis, Chairman of the Hellenic Capital Market Commission, after congratulating the company, the underwriters and the advisors of the corporate bond issue, stated: "When interesting investment proposals are made, they are welcomed by both professionals and the general investor public." He further noted that: "This has been called a green bond, since in addition to its contribution to the Greek economy and the company's financing, it incorporates very important environmental protection aspects". In conclusion, he stressed that: "There is an accumulated potential in the so-called small national champions - those small and medium-sized enterprises that have been quite successful - that are seeking financing for their development proposals and support for their liquidity needs. It is considered that these companies can also attract the interest of both investors and professionals for the support of their bond issues."
| Download the Press Release |
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| Purchase of Corporate Bonds on the Athens Stock Exchange | ||
| Hihglights of the event | ||
| Opening the event |
Purchase of Corporate Bonds on the Athens Stock Exchange Mr. Pantelis Lambrou Director of Strategic Communication & Market Analysis, Athens Stock Exchange Group |
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| Start of the meeting | ||
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Vasilis Delikaterinis, Chairman of the companyCFO |
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Vasilis Delikaterinis, Chairman of the companyCFO Aristotelis Spiliotis, CEO of the company and Deputy CFO of the Group |
About the issue of the corporate bond
Coordinators and Bookrunners were Alpha Bank and Eurobank Ergasias. Underwriters were Euroxx Securities, the National Bank of Greece and Piraeus Bank. Advisor was Euroxx Securities
A total of 60,000 common, bearer bonds of the company with a nominal value of €1,000 each have been allocated and €60,000,000 have been raised.
. These are 5-year bonds with a 3.85% interest rate.
Total demand and the number of investors that participated in the Public Offer was €154.4 million (subscribed at 2.57 times) and 2,881 respectively.
The Bonds were allocated as follows: a) 42,000 bonds (70% of the total) to Private Investors, satisfying 40.8% of the demand and b) 18,000 bonds (30% of the total) to Institutional Investors satisfying 42.3% of the demand. Also, from the 18,000 Bonds allocated to Institutions Investors, the Underwriters received for their own account 7,920 Bonds.
The process was carried out through the Electronic Book Building service of the Athens Stock Exchange.
More information about the issue can be found on the Athens Stock Exchange website at this link.
About TERNA ENERGY
TERNA ENERGY has a capacity that spans from site investigation and assessment of available renewable energy potential, to the design, licensing, construction, as well as the operation, maintenance and commercial exploitation of RES projects.
TERNA ENERGY is active across the entire range of Renewable Energy Source (RES) technologies, and in particular the development of Wind Parks, Hydroelectric Projects, Solar Energy Units, as well as Integrated Management and Energy Production Units from waste and biomass.
TERNA ENERGY, being a member of GEK TERNA GROUP, enjoys advantages and strong synergies from the Group's presence in the Middle East and North Africa in construction, concessions, real estate, industrial production, as well as thermoelectric stations and cogeneration units.
The company's activity is supported by a solid infrastructure foundation, its main features being a sound financial structure, strong specialisation and know-how, global implementation of quality assurance procedures and in-depth knowledge of the international institutional, economic and business environment.
TERNA ENERGY FINANCE S.A. - issuer of the corporate bond and member of the TERNA ENERGY GROUP: Founded with the purpose of making investments and financing the company's activities and those of the companies and businesses affiliated with it. Other than its investment in the bonds of the Intra-group Loan it has no other business activity, is not active on any market and has no other assets.
About Athens Exchange Group
The Athens Stock Exchange since its establishment in 1876, consistently participate in the financial and business developments in the country.
Athens Exchange Group (ATHEX Group), provides support to the Greek Capital Market. ATHEX Group operates the organized Equities and Derivatves markets, the alternative market and performs clearing and settlement of trades.
The Athens Stock Exchange, through its markets, offers solutions and financing tools to businesses, expands investor choice by providing a safe, stable and easy environment in full alignment with international practices and the European regulatory framework.
In a period that the role of stock markets in exploring alternative ways of financing business, at a European level, is significantly enhanced, the Athens Exchange Group has taken a series of initiatives to highlight the attractiveness of the Greek Capital Market and the Greek companies to the international investment community and expand the variety of investment opportunities.
Its shares are traded on the Main Market of the Athens Exchange (Symbol: EXAE).
The profiles of the ATHEX Group and its markets can be downloaded from the link. More information can be found in the website www.athexgroup.gr.
110 Athinon Ave. 10442 Athens, Greece, tel +30-210 3366 800, fax +30 210-3366 101