Greece, DEPA Infrastructure has signed a new bond loan program with Eurobank

, SEE Energy News

Greek natural gas distributor DEPA Infrastructure, which was recently acquired by Italgas, has signed a new bond loan program with Eurobank for a maximum nominal amount of up to 580 million euros, divided into three tranches with a maturity of up to five, seven and 12 years respectively.

The bond loan will mainly be used to finance the investments envisaged in the infrastructure development plan of DEPA Infrastructure and its subsidiaries in Greece.

Italgas CEO Paolo Gallo said that the loan, signed in less than one month after the entry into DEPA Infrastructure, confirms the appreciation of the financial system for the development vision that Italgas intends to realize in Greece.

In early September, Italgas, Italy’s biggest natural gas distribution company and the third largest in Europe, has confirmed that it has concluded the acquisition of Greek DEPA Infrastructure in a deal worth 733 million euros.

DEPA Infrastructure holds stakes in three largest gas distribution operators in Greece, managing over 7,500 kilometers of gas network.