Latham & Watkins advised JPMorgan as the arranger and senior funder of an energy receivables securitization program established for Public Power Corporation (PPC). The securitization program will provide PPC with up to €200 million in senior funding to further enhance the company's liquidity position.
PPC is the largest Greek electricity generator and the principal supplier of electricity in the country. The securitization program finances performing consumer and corporate receivables up to 60 days past due, originated by PPC from its supply of electricity in Greece.
The Latham deal team was led by London finance counsel Thomas Cochran, with associates Jason Wong, Jonathan Lauras and Catherine Hui. In addition, associates Ed Moberly and Aaron Bradley advised on tax matters, while partner Gail Crawford and associate Susan Mann advised on data protection matters.