ATHENS: Greek construction group GEK Terna will issue a convertible bond from March 27 to 29, aiming to raise up to 120 million euros ($148 million), it said on Thursday.
GEK Terna said it would use the proceeds to fund its investment plans and refinance debt.
The issue will be priced on March 26. NBG Securities, Alpha Bank, Piraeus Bank and Eurobank will act as lead managers.
The group, active in construction, power supply and waste management, has a projects backlog of 1.8 billion euros.
In a consortium with GMR Airports, it was named provisional winner for the construction of a 530 million euro ($655 million) airport on the island of Crete.
Signing of the contract is expected by September.
Source: Brecorder.com
