GEK TERNA S.A. (the “Company”) announces the establishment of a Euro Medium Term Note Programme (the “EMTN Programme”), which is aimed at qualified investors within the meaning of Regulation (EU) 2017/1129.
The EMTN Programme is being established following the Company’s receipt of its first investment-grade credit ratings from S&P Global Ratings (BBB-) and Moody’s (Baa3), and builds on the opportunities available to investment-grade issuers in the European Union. Through the EMTN Programme, the Company will have access to the Eurobond market, making use of the favourable conditions it offers investment-grade issuers.
The EMTN Programme has a term of 12 months, with the option to renew it annually. Notes issued under the EMTN Programme will be admitted to trading on the regulated market of the Luxembourg Stock Exchange or on other trading venues in Europe, depending on market opportunities and the Company’s financing strategy.
The Base Prospectus for the EMTN Programme, approved on 14 October 2026 by Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), as the competent authority under Regulation (EU) 2017/1129, is available on the Luxembourg Stock Exchange’s website: www.luxse.com.
How it broadens access to international capital markets
The establishment of a Euro Medium Term Note (EMTN) Programme marks another decisive step in GEK TERNA’s growth. Following receipt of investment grade ratings from S&P Global Ratings (BBB) and Moody’s (Baa3), the creation of an EMTN Programme confirms the continued institutional strengthening of the Group’s financing strategy.
As GEK TERNA strengthens its presence in long-term concessions and infrastructure, and expands its investment portfolio into new cutting-edge sectors, its financing structure is evolving in parallel. Broader access to international markets and a wider base of institutional investors is a natural next step in this process.
With the establishment of the EMTN Programme, GEK TERNA significantly enhances its ability to access international capital markets. The programme provides the infrastructure for the company to approach international markets in line with its financing needs and, above all, when conditions are right, swiftly and flexibly taking advantage of favourable market windows (“market windows”).
EMTN programmes are an internationally recognised platform for capital markets access for leading investment-grade issuers. For GEK TERNA, the establishment of the EMTN Programme marks a new level of financing readiness and international presence, cementing the Group’s transformation into a modern, outward-looking issuer with a flexible and internationally focused financing strategy.
The combination of an investment-grade rating and the EMTN Programme – which will be rated independently by the rating agencies and is expected to also receive an investment grade rating – marks a major milestone for GEK TERNA in the international capital markets. This is not simply about the possibility of a one-off issuance, but the organised entry of an investment-grade issuer into the international debt market, through a platform that supports the Group’s sustained presence in the markets and sends the international investment community a strong message of credibility and long-term strategic direction.
GEK TERNA is no longer simply a large Greek group. It has evolved into one of the most important infrastructure investors and operators in south-eastern Europe, an organisation with international recognition and access, and a pivotal role in shaping the next chapter of the Greek economy.