GEK Terna has moved forward with a €500 million bond issue, priced at an interest rate of around 5.10%. The issue had been temporarily postponed, initially due to unfavorable market conditions.
The bond will be listed on the Luxembourg Stock Exchange and matures in 2033. It is rated Baa3 by Moody’s and BBB- by S&P.
Some analysts have questioned the timing of the issue and the company’s liquidity needs, given its substantial existing debt.