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Author: Luka Dimitrov
2021/03/17 LONDON (ICIS) The European Bank for Reconstruction and Development (EBRD) could invest in future Sustainability-Linked Bonds (SLBs) issued by utilities in southeast Europe, a source within the bank told ICIS on 17 March. On 11 March the EBRD invested €50m in a five-year SLB issued by state-owned Greek supplier the Public Power Corporation (PPC). PPC said it will use part of the proceeds to fund renewable projects as the company looks to reduce its dependency on coal-fired generation. It was the first SLB issuance in the region covered by the EBRD. George Gkiaouris, EBRD regional head, said this sent a signal that access to the bank’s fin
With a total issuance volume of €650 million, the issue will help improve PPC’s access to finance by diversifying its financing sources to a new environmental, social and governance (ESG)-focused investor base.