Finacity announces the closing of a trade receivables securitization program for Public Power Corporation, the largest Greek electricity generator and the principal supplier of electricity in the country.
The securitization program finances consumer and corporate receivables originated by PPC in Greece.
The securitization program will allow PPC up to EUR 200 million in senior funding to further enhance the company’s liquidity position.
Finacity provided analytic and structuring support and will serve as the ongoing transaction administrator.
Public Power Corporation, a Greek State-controlled entity, is the leading player in the Greek energy market. PPC supplies power to approximately 6.3 million customers throughout Greece and is the largest power generation company in the country.
The company currently holds about 66% of the Greek energy market share. PPC was established in 1950 and has its headquarters based out of Athens, Greece.
The company has been a publicly listed entity since December 2001, with a market capitalization of EUR 858,86 million as of Aug 10, 2020.