GEK TERNA prepares €500M seven-year bond issue

The company announced that it has mandated international and Greek banks to organise a series of meetings with institutional investors, commencing on Monday, 19 October 2026, to present the proposed offering. The bond issue is expected to follow, subject to favourable market conditions.

The proposed securities will be senior unsecured fixed-rate notes with a total nominal value of €500 million and a seven-year maturity. The offering is expected to be conducted outside the United States in accordance with Regulation S under the US Securities Act.

Banks Mandated for the Bond Issue

BNP Paribas, J.P. Morgan and Mediobanca have been appointed as global coordinators and joint bookrunners.

The other joint bookrunners are AXIA, Deutsche Bank, Eurobank, Goldman Sachs Bank Europe, HSBC, Morgan Stanley, National Bank of Greece, Piraeus Bank and Optima bank.

Expected Credit Ratings

According to the announcement, the notes are expected to receive ratings of BBB- from S&P Global Ratings and Baa3 from Moody’s Ratings.

The net proceeds from the issue are intended to be used for GEK TERNA’s general corporate purposes, with no specific allocation of funds disclosed.

The final coupon and other terms of the offering will depend on investor demand and prevailing market conditions at the time the transaction is completed.