Power utility PPC is preparing to issue two securitization packages of unpaid receivables totaling 1.5 billion euros, beginning with a package of 60-day receivables, whose agreement with investors is expected to be finalized by the end of March.
PPC is currently in talks with investors who will provide conditional funding in exchange for the packages.
A second securitization package carrying 90-day receivables needs more work. PPC is awaiting data that is required before it can commence talks with investors. Though this securitization procedure could also be completed by the end of the first quarter, finalization in April cannot be ruled out.
PPC is hoping to collect a sum of between 350 and 400 million euros for its two securitization packages carrying unpaid receivables of 1.5 billion euros.
The amount to be collected promises to offer the power utility a cash flow boost that will help fund the company’s investment plan.
Deutsche Bank and Finacity Corporation are organizing the two securitization procedures, sources informed.