Greek construction group GEK Terna's bond sale raises 120mn euros

ATHENS: Greek construction group GEK Terna raised 120 million euros ($147.7 million) from a 7-year bond sale with a 3.95 percent yield, the joint lead managers said late on Thursday.

The yield was within the 3.85 to 4.40 percent range previously expected, with offers for the issue coming in at 249.2 million euros, said the lead managers NBG Securities, Alpha Bank, Piraeus Bank and Eurobank.

The group, active in construction, power supply and waste management, has said it would use the proceeds to fund its investment plans and refinance debt.