(27/12) Χ.Α @5:21μμ: To χρηματιστηριακό σημειωματάριο του μ/μ (ΙΙ)

Greece/Economy: Japanese rating agency R&I upgrades Greece’s investment grade by 2 notches to BB from B+ with a stable Outlook, still lagging though by 2 notches to render it investment grade. 

Greece/Travel Services Balance: Greece’s balance of travel services showed a surplus of €1.2bn in October, almost unchanged from the year-ago figure, according to provisional data from the Bank of Greece. In October, travel receipts rose 4% y-o-y to €1.44bn while travel payments also firmed 45% to €250mn.

• “The rise in travel receipts is attributed to a 2.3% year-on-year increase in average expenditure per trip, as well as to a rise of 1.9% in inbound traveler flows. Net receipts from travel services accounted for 73.2% of total net receipts from services and offset 58.0% of the goods deficit,” BoG said.

The number of inbound visitors stood at 2.7 million, compared with 2.72 million in October 2018. In the January-October period, the balance of travel services showed a surplus of €15.2bn, up from a surplus of €13.7bn in the same period of 2018. 

Greece/Energy Sector: Greece, Cyprus and Israel said they plan to sign the interstate agreement about the construction of the Eastmed energy pipeline in Athens on January 2. The agreement will be signed by Greek Prime Minister Kyriakos Mitsotakis, Cypriot President Nikos Anastasiades and Israeli Prime Minister Benjamin Netanyahu.

• The deal will be finalized with Italy’s signature at a subsequent date, Prime Minister’s office said. EastMed is a planned offshore/onshore natural gas pipeline, directly connecting East Mediterranean energy resources to mainland Greece via Cyprus and Crete.
• The project, currently in design, will transport natural gas from the off-shore gas reserves in the Levantine Basin into Greece, and in conjunction with the Poseidon and IGB pipelines into Italy and other European regions.
• Recall that the Energy Triangle of Greece, Cyprus, and Israel signed an intergovernmental agreement for the EastMed gas pipeline in Tel Aviv in March 2019 in the presence of United States Secretary of State Mike Pompeo. 

Greece/PDMA: Greece’s Public Debt Management Agency (PDMA) is expected to raise between €4-€8bn in 2020, the agency said in a report released Tuesday, adding it will maintain the current level of cash reserves. PDMA said state funding for next year will focus on the continuous presence in the international debt markets, accompanied by the reduction in debt stock.

• The two main financing scenarios for 2020 it is considering, depending on the amount of early repayments, envisages either the reduction in T-bills’ stock through issuance of additional Greek government bonds (GGBs), or additional possible early prepayments of official and private sector debt. It added that the final amount of early prepayments will depend on market conditions next year. 

OTE: Treasury stock stands at 1.881% of share capital (9,027,440 shares). 

PPC: extraordinary GM approves new BOD remuneration. 

GEK TERNA: The company bought 6,000 shares for a total consideration of €42,940 (€7.1567/share) and 17,656 shares at €7/share (€123.755K). A block of 2 mn shares was traded on Monday for a total consideration of €12.42mn (€6/share). 

LAMDA DEVELOPMENT: Aegean Air acquired 1,606,138 shares of Lamda Development for a total consideration of €10.761mn (ie €6.7/share) 

Sarantis: BOD Chairman Mr G Sarantis sold 50K shares at €8.50/share. 

Aegean Air: Aegean Airlines said it received on Friday the first Airbus A320neo jet in Toulouse, the first of a total order of a minimum of 46 aircraft of the A320neo family expected to be received by the end of 2024. The deal is valued at around $6bn at list prices.

• The new aircraft will be incorporated in the company’s fleet and is expected to initiate commercial flights around mid-February. By July 2020, the company is scheduled to receive six new aircraft of the type in total, “in order to best serve its planned network of 155 destinations and 19.2 million offered seats with 65 aircraft for 2020,” the carrier said. “The 46 Airbus A320neo family aircraft order by Aegean constitutes the largest private sector investment in Greece,” Aegean said. 

BRIQ Properties: BOD Chairman and major shareholder Fessas stake to the company was reduced to 37.59% (from 51.29% previously) following the completion of the recent share capital increase. Mrs Koutsoureli’s stake (BOD member and second major shareholder) was also reduced to 16.82% from 25.23% previously. The company also announced the acquisition of a new real estate asset in Athens center (retail outlet) for a total consideration of €1.75mn. 

Hellenic Petroleum: The company trades gross FY’19 interim dividend of €0.25/share (net €0.2375/share) on January 7th 2020. Payment due on January 14th. 

Intrakat: Intracom Holding completed the transfer of a 13.33% stake in Moreas to Intrakat. 

EKTER: The company was awarded a BOG building renovation project budgeted €5.6mn. 

Creta Farms: NBG’s stake to the company rose to 31.17% from 12.17% previously totaling 9,832,266 shares. 

Epsilon Net: The company acquired a 34% stake in HiT Hospitality Integrated Technologies for €1mn. 

Euromedica: The new management of Euromedica has filed for protection from creditors under the bankruptcy law.

• The listed firm is planning to start a streamlining process with the entry of a strategic investor and the restructuring of obligations adding up to €500mn.
• Healthcare Investors, owned by Farallon Capital, is the strategic investor and sources say it has already paid some €6mn to cover operating expenses and salaries in the Athens-based clinics group. 

FG EUROPE: Hellenic capital Market Committee approves squeeze out plan of Silaner Investments Limited at 0.4920/share. The company will cease trading on January 10th 2020