PPC updates VDR for unpaid receivables securitization

Power utility PPC has updated its virtual data room with additional information for  investors ahead of a first securitization package for unpaid receivables of up to 60 days.

Prospective investors reentering the power utility’s VDR to study the new data are seeing improved collection prospects.

This is a crucial aspect in the investment decisions of funds if they are to be convinced of financing PPC in exchange for unpaid receivables as guarantees.

Once PPC’s current financial condition has been fully appraised by the interested funds an agreement on the securitization terms will be established.

Though it remains unclear when the securitization package could be ready, a decision is expected at one of the forthcoming PPC board meetings between mid-October and November.

The securitization of PPC’s unpaid receivables promises to offer cash flow relief for the utility. PPC will remain responsible for settling unpaid receivables included in the securitization package.