Bernitsas Law advises on Astir Palace Vouliagmenis €265m bond loan
We advised the Astir Group and sponsors, including AGC Equity Partners, on the issue of a €265m bond loan by Astir Palace Vouliagmenis for the refinancing of existing bank debt and financing of the refurbishment, reconstruction and development of the Astir luxury hotel properties, a landmark Greek hotel, and the Astir marina located on the Athens Riviera. The National Bank of Greece acted as arranger, bondholder agent and facility agent and National Bank of Greece and NBG Malta as subscribers. The loan was secured over real estate assets, receivables, shares and corporate guarantees.
The National Bank of Greece is one of Greece’s four systemic banks, listed on the Athens Exchange and active in Greece and in Cyprus, the Balkans, Malta, Australia, Egypt, the United Kingdom and South Africa through branches and subsidiaries.
The team was led by Athanasia Tsene.