Today, barring any unforeseen developments, AKTOR is expected to re-enter international capital markets through a five-year bond issuance set to raise an additional €300 million for the group’s coffers.
According to sources, the group will launch the book-building process for the bond issuance, having already received signals of exceptionally strong interest from fixed-income investors during roadshow presentations held over the past several days.
AKTOR hits markets with €300 million bond
Against this backdrop, AKTOR’s bond issuance is expected to launch and close successfully within the same day. This will mark the group’s second major capital markets move, following last week’s €650 million share capital increase — a clear testament to the strong confidence shown by institutional investors who are positioning themselves in both equities and fixed-income securities, recognizing the group’s significant growth potential.
The net proceeds from the bond issuance are earmarked to cover general corporate purposes, with a particular focus on funding the planned capital expenditures and new investments outlined in the group’s business plan. Combined with the capital increase, AKTOR is set to secure total financing capacity exceeding €1 billion, providing the resources needed to execute its ambitious investment program.
These funds will be added to the €650 million raised through last week’s share capital increase, which drew participation from major international and domestic institutional portfolios and prominent business names — creating a formidable financial firepower of close to €1 billion that will support the group’s €3 billion investment plan targeting 2030.
Tomorrow, coinciding with the official announcements on the allocation of new shares to incoming shareholders — and with the bond issuance already completed — a special ceremony is scheduled at Euronext Athens to mark the official commencement of trading for the 57,777,778 newly issued ordinary shares, offered at €11.25 each. The chairman and CEO of AKTOR will symbolically ring the historic stock exchange bell. Last week, he described the capital increase as a “strategic milestone in the history of the AKTOR Group,” stressing that “the AKTOR Group now becomes one of the most well-capitalized infrastructure companies in Greece and Southeast Europe, and accelerates its pace toward executing its investment plan, with faith in its people and in the prospects of the Greek economy.”
EBITDA target: €700 million
The capital raised forms the foundation for a total investment program of €3 billion through 2030, as the group seeks to gradually transform itself into a fully integrated player across the infrastructure, energy, and concessions sectors.
Management has set medium-term targets for the 2028–2029 period of revenues between €2.3 billion and €2.8 billion, and operating profitability (EBITDA) of €375–425 million. Looking beyond 2030, the bar is set even higher, with revenue targets of €4.5–5 billion and EBITDA projected in the range of €600–700 million — levels that, according to market insiders, would fundamentally transform the group’s size and investment profile.
A shift in profile
The funds raised will be directed primarily toward concession and PPP projects, the development of a renewable energy portfolio, LNG energy infrastructure, and strategic acquisitions. Particular significance is attached to the agreements being developed with Motor Oil. AKTOR is currently in exclusive negotiations to acquire a 75% stake in HELECTOR and Thalis, with the relevant processes expected to be completed by September. The transaction is anticipated to significantly strengthen the group’s presence in the circular economy and environmental management sectors.
In parallel, AKTOR’s 50% participation in Dioriga Gas and the Agioi Theodoroi FSRU project further expands the group’s exposure to energy infrastructure, creating an additional source of recurring operating profitability while gradually reducing its dependence on the construction sector.
Published in Apogevmatini
