A strong vote of confidence from the international investment community was received by the AKTOR Group, as the international bond issue of EUR 300 million was completed with over cover by 1.8 times, while the final interest rate was set at 7.87%, reportedly from the market.
The successful completion of the issue comes a few days after the very successful share capital increase of 650m euros, which raised bids over 2.2 billion euros, confirming the strong interest of foreign institutional investors in the group's investment plan.
With both moves, AKTOR ensures a total financial capacity of around EUR 950 million, creating the conditions for the implementation of its ambitious investment programme of EUR 3 billion by 2031.
Net proceeds from the issuance of the bond will be directed towards general corporate purposes, with the main objective of financing capital expenditure and new investments. The management strategy under Alexander Exarchus provides for the gradual transformation of AKTOR into an integrated group of infrastructure and energy with a leading presence in Southeast Europe, in the areas of concessions, PPP projects, Renewable Energy Sources, Energy Infrastructure and LNG.
The success of the publication is also attributed to the extensive preparatory work that was preceded by UBS Europe, the contractor of the publication, which conducted a series of contacts with investors in Greece and abroad. Market players point out that international portfolios positively assessed the group's business plan, giving particular importance to the creation of recurring cash flows from concessions, energy infrastructure and RES.
The new financing further strengthens AKTOR's ability to move on to its planned investments, but also to strategic acquisitions. In this context, exclusive negotiations are under way with Motor Oil to acquire 75% of ELECTOR and Thalis, a transaction estimated to be completed in September and significantly strengthen the presence of the group in the circular economy and waste management.
At the same time, participation by 50% in Dioriga Gas and FSRU Saint Theodora widens AKTOR's footprint in energy infrastructure, strengthening the share of activities that produce stable and recurring cash flows.
The administration has set itself a target for the period 2028-2029, a turnover of EUR 2,3-2,8 billion and EBITDA of 375-425 million, while after 2030 it aspires to increase revenues to EUR 4.5-5 billion and operational profitability to EUR 600-700 million. The achievement of these objectives is expected to allow, from 2028 onwards, the start of a dividend distribution to shareholders, provided that no new investment opportunities arise to justify the reinvestment of available funds.
