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BSTDB Invests in GEK TERNA’s First Sustainability-linked Bond Issued in the Greek Market

Press Release | 15-Dec-2021

Bond to support the Group’s investment programme 
The Black Sea Trade and Development Bank (BSTDB) has invested EUR 30 million in a sustainability-linked bond issued in the Athens Stock Exchange by GEK TERNA, a leading infrastructure and energy group in Greece. The proceeds of the BSTDB subscription shall be mainly used for the financing of business activities in infrastructure, energy, industrial and real estate sectors.  

The GEK TERNA’s seven-year EUR 300 million bond will substantially support the Group’s extensive investment programme and growth plans and shall contribute to the dynamic recovery of the Greek economy but also the adoption of environmental principles and inclusion in daily lives.  It is the first sustainability-linked bond issued in the Greek market, indicating the Group’s strong commitment to contribute to the effort against climate change.

Dmitry Pankin, BSTDB President said: “We are delighted to support GEK TERNA in its debut sustainability-linked bond. Strengthening the local capital market and promoting the green economy, underline our commitment to align the Bank’s financing with environmental, social and governance (ESG) commitments of our member countries”.

George Peristeris, GEK TERNA Chairman and CEO said: “We would like to sincerely thank the BSTDB for the trust it has shown to GEK TERNA. Its participation in this landmark bond issuance made by the Group significantly supports our growth strategy. GEK TERNA with its strong social footprint, takes initiatives that enhance employment, and have positive impact on the environment, the quality of daily life, in green growth and sustainable development.” 

GEK TERNA S.A. is the holding company of a group active mainly in concessions, renewable energy, thermal energy and construction. Listed at the Athens Stock Exchange since 1994, the company operates in Greece, Central and South-Eastern Europe and the Middle East.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A” by Standard and Poor’s,  “A2” by Moody’s and “A+” by the Russian credit rating agency ACRA. For information on BSTDB, visit www.bstdb.org.

Haroula Christodoulou
E-mail: cchristodoulou@bstdb.org
Phone: +30 2310 290533
Twitter: @BSTDB; @Haroulax 

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