EQS-Adhoc: PPC Zeus Designated Activity Company: NOTICE OF AMENDMENTS to the holders of €325,020,000 Fixed Rate Asset Backed Notes due 2026 (ISIN: XS2269203316)

EQS-Ad-hoc: PPC Zeus Designated Activity Company / Key word(s): Bond
   PPC Zeus Designated Activity Company: NOTICE OF AMENDMENTS to the holders
   of €325,020,000 Fixed Rate Asset Backed Notes due 2026 (ISIN:
   XS2269203316)

   27-Jul-2023 / 15:20 CET/CEST
   Disclosure of an inside information acc. to Article 17 MAR of the
   Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
   Group AG.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   27 July 2023

    

   THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF SENIOR
   NOTEHOLDERS.  IF SENIOR NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY
   SHOULD TAKE, THEY SHOULD IMMEDIATELY CONSULT THEIR OWN INDEPENDENT
   PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS
   ACT 2000, AS AMENDED (IF THEY ARE LOCATED IN THE UNITED KINGDOM), OR FROM
   OTHER APPROPRIATELY AUTHORISED INDEPENDENT PROFESSIONAL  ADVISERS  (IF
   THEY  ARE  LOCATED  OUTSIDE  OF  THE  UNITED  KINGDOM).

   THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE
   REGISTERED AND BENEFICIAL OWNERS OF THE SENIOR NOTES. IF APPLICABLE, ALL
   DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE
   ARE  REQUIRED  TO  EXPEDITE  TRANSMISSION  HEREOF  TO  BENEFICIAL  OWNERS
   OF  THE SENIOR NOTES IN A TIMELY MANNER. IF BENEFICIAL OWNERS OF THE
   SENIOR NOTES ARE  IN  ANY  DOUBT  AS  TO  THE  MATTERS  REFERRED  TO  IN
   THIS  NOTICE,  THEY  SHOULD CONSULT THEIR STOCKBROKER, LAWYER, ACCOUNTANT
   OR OTHER PROFESSIONAL ADVISER WITHOUT DELAY.

   If you have recently sold or otherwise transferred your entire holding(s)
   of Senior Notes referred to below, you should immediately forward this
   notice to the purchaser or transferee or to the stockbroker, bank or other
   agent through  whom the sale or transfer was  effected for transmission to
   the purchaser or transferee.

   THIS  ANNOUNCEMENT  MAY  CONTAIN  INSIDE  INFORMATION  FOR  THE  PURPOSES
   OF ARTICLE 7 OF REGULATION (EU) 596/2014 OF THE EUROPEAN PARLIAMENT AND OF
   THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE (AS AMENDED) (“EU MAR”) AND
   REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED
   KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED
   (“EUWA”) AND AS FURTHER AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT)
   REGULATIONS 2019 (“UK MAR” AND, TOGETHER WITH EU MAR, “EU/UK MAR”).  

   PPC  ZEUS  DESIGNATED  ACTIVITY  COMPANY

   (a designated activity company incorporated with limited liability in
   Ireland under registered number 671216)

   (the “Issuer”)

    

   NOTICE  OF AMENDMENTS

    

   to the holders of

   €325,020,000  Fixed  Rate  Asset  Backed  Notes  due  2026  (ISIN:
   XS2269203316)

   (the “Senior  Notes”)

    

   This announcement is released by the Issuer and may contain inside
   information for the purposes of Article 7 of EU/UK MAR, encompassing
   information relating to the Senior Notes described above. For the purposes
   of EU/UK MAR and Article 2 of Commission Implementing Regulation (EU)
   2016/1055, including as it forms part of UK domestic law by virtue of
   EUWA, this announcement is made by the Directors of the Issuer.

   We refer to: (i) the note trust deed dated 9 April 2021, constituting the
   Senior Notes and made between the Issuer and Citibank N.A., London Branch
   (as “Note  Trustee”) (including the terms and conditions of the Senior
   Notes set out in Schedule 3 (Terms and Conditions of the Senior Notes)
   thereto (the “Conditions”)), as amended, restated and/or supplemented from
   time to time (the “Note Trust Deed”) and (ii) the master definitions and
   framework deed dated 9 April 2021, as amended, restated and/or
   supplemented from time to time and made between, among others, the Issuer,
   Public Power Corporation

   S.A. (as “Seller”) and Citibank N.A., London Branch (as “Security
   Trustee”) (the “Master  Definitions and Framework Deed”). Capitalised
   terms used but not otherwise defined in this notice shall have the
   meanings ascribed to them in the Note Trust Deed and/or Master Definitions
   and Framework Deed.

   The Issuer hereby announces that it has entered into a deed of amendment
   and restatement (the “Deed  of Amendment  and  Restatement”) between,
   among others, the Issuer, the Seller, the Note Trustee and the Security
   Trustee, pursuant to which certain amendments will be made to the Master
   Definitions and Framework Deed, the Note Trust Deed (including the
   Conditions), the Issuer Collections Account Bank Agreement, the Account
   Agreement, the Servicing Agreement, the Sub-Servicing Agreement and the
   Agency Agreement, including (among other things):

    1. the extension of the Revolving Period until July 2024 and the
       inclusion of an option to extend the Revolving Period for an
       additional 12 months if the Issuer (acting at the direction of the
       Seller) and the Note Trustee (acting on the instructions of the Senior
       Noteholders acting by way of Extraordinary Resolution) so agree;
    2. an extension of the Legal Maturity Date until July 2028 or, if the
       Revolving Period is extended pursuant to the mechanics described at
       paragraph 1 above, to a date falling 12 months thereafter;
    3. amending the Senior Note Interest Rate from 6.8 per cent per annum to
       EURIBOR plus 4.5 per cent. per annum;
    4. the addition of a new daily collections sweep which, upon satisfaction
       of certain conditions (including the funding of a EUR15,000,000
       liquidity reserve amount and transferring EUR9,500,000 of Collections
       to the Transaction Account in each Collection Period), permits the
       Servicer (on behalf of the Issuer) to effect daily cash sweeps from
       the Issuer Collections Account to an account designated by the Seller
       in satisfaction of amounts due and payable by the Issuer to the Seller
       and the Junior Noteholder on the next scheduled Interest Payment Date;
    5. the changing of the Registrar from Citigroup Global Markets Europe AG
       to Citigroup Europe PLC and the appointment of a Calculation Agent;
       and
    6. changing certain provisions in the terms and conditions of the Senior
       Notes relating to meetings of Senior Noteholders, including a
       stipulation that certain matters the subject of an Extraordinary
       Resolution require a voting threshold of 100 per cent. of the
       aggregate Senior Note Principal Amount Outstanding.

    

   This notice does not constitute an offer to sell or the solicitation of an
   offer to subscribe for or otherwise acquire any securities in any
   jurisdiction.

   This notice and any non-contractual obligations arising out of or in
   connection with this notice will be governed by and construed in
   accordance with English law.

   No person has been authorised to give information, or to make any
   representation in connection therewith, other than as contained herein.
   The delivery of this notice at any time does not imply that the
   information in it is correct as at any time subsequent to its date.

   For further information, please contact the Issuer at the address below.
   PPC ZEUS DESIGNATED ACTIVITY COMPANY

   Fourth Floor

   3 George’s Dock

   IFSC

   Dublin 1 Ireland

    

   Attention: The Directors
   Email: [1][email protected]
   Tel: +353 1 6125550

    

   PPC  ZEUS  DESIGNATED  ACTIVITY  COMPANY

   End of Inside Information

   ══════════════════════════════════════════════════════════════════════════

   27-Jul-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     PPC Zeus Designated Activity Company
                Fourth Floor, 3 George's Dock, IFSC, Dublin 1
                D01 X5X0 Dublin
                Ireland
   Phone:       +353 1 6125550
   E-mail:      [email protected]
   ISIN:        XS2269203316
   Listed:      Vienna Stock Exchange (Vienna MTF)
   EQS News ID: 1689929


    
   End of Announcement EQS News Service


   1689929  27-Jul-2023 CET/CEST

References

   Visible links
   1. mailto:[email protected]

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