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Our practice is one of the foremost in Greece with an expertise in both benchmark and mainstream domestic and cross-border transactions.

high standards of professionalism and reliability

The IFLR 1000 2018

the impressive team at Bernitsas Law is top notch for banking, finance and capital markets work

The Legal 500 EMEA 2017

a strong reputation ... they have a lot to add because they have exposure to the majority of major deals in Greece

Chambers Europe Guide to Europe's Leading Lawyers for Business 2017

the lawyers are really on top of things; we have never come across a situation where we found ourselves on the back foot ... always pre-emptive

Chambers Europe Guide to Europe's Leading Lawyers for Business 2017

a strong banking practice and their restructuring and insolvency work really complements that

Chambers Europe Guide to Europe's Leading Lawyers for Business 2017

We act for international and domestic banks, investment firms and other financial institutions, insurance companies, funds and public and private companies which do business in Greece.

Over the last three decades, we have participated in the vast majority of significant deals to have taken place in terms of both complexity and value and have structured and executed numerous pioneering transactions. An integral part of our practice is drafting and reviewing complex documentation, including for the refinancing, rescheduling or restructuring of borrowers, in most cases involving security over assets located in Greece or corporate guarantees by Greek companies.

The Firm works with international investment banks, regularly interfacing with the regulators, to develop financing and capital raising techniques. We represent the full range of stakeholders (corporates, credit and financial institutions and, with respect to State controlled corporates, the Hellenic Republic) and have unrivalled experience in acting in equity and debt capital markets transactions across a variety of industry sectors including financial, telecommunications, energy, gaming, utilities, pharmaceutical, food and retail.

Banking & Finance

We provide comprehensive services to all market participants in lending, corporate finance, securitizations, banking and leveraged, acquisition, asset and structured finance. We have extensive experience in a wide variety of financing techniques with a particular specialisation in bond issues, securitisations, sale and management of non-performing exposures. We have closely followed the development of the recent legal and regulatory framework pertaining to non-performing loans and non-performing exposures, representing Greek and international institutions.

Capital Markets

We have a recognised expertise in capital markets offerings and transactions involving private and State controlled companies. Our team advises on a wide variety of debt and equity transactions, including IPOs, secondary offerings, private placements and tender offers.

Financial Services Regulation

Advising on managing risk and on compliance with regulations are key sectors of our practice. We believe in keeping clients one step ahead of regulatory developments which will have a material impact on their business. Our team also advises on reporting procedures and investigations by regulatory bodies as well as corporate governance and disclosure requirements. We have repeatedly provided advice on regulatory capital of credit institutions and on recovery and resolution of credit institutions, as well as the eligibility criteria for ECB collateral. We are members of the ECB’s law panel and of the SRB’s law panel.

Foreign Direct Investment

We have years of experience in advising foreign investors on the assessment, structuring and implementation and regulatory, legislative and licensing aspects of their investments in Greece in the private and public sectors. Our team also advises on the mitigation of risks associated with potential investments and the fast track procedures in place which encourage inward investment.

Restructuring & Insolvency

We advise lenders and borrowers on distressed situations. Our team is experienced in refinancings, liquidations, debt reschedulings and restructurings of solvent companies with financial difficulties and insolvent companies. We also advise on administrations, workouts and receiverships.

Securitizations

We have repeatedly worked on the structuring and implementation of securitization transactions, with listed or non-listed notes, including with respect to servicing arrangements and the replacement of appointed servicers. In this context, we have issued (or reviewed, as the case may be) Greek legal opinions for the securitization transaction, we have drafted (or reviewed and commented on, as the case may be) on the securitization transaction documents and the description of the securitized portfolio and have provided advice on legal and regulatory issues in connection with the relevant portfolio.

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Recognitions

   

Intrum Justitia Purchase of €1.5bn NPLs from Eurobank

Bernitsas Law advised Intrum Group on the acquisition of a €1.5bn NPLs portfolio from Eurobank and on the servicing arrangements for the portfolio.

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 reconstruction and development of the Astir luxury hotel properties and the Astir marina located in Vouliagmeni. 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.

Hellenic Petroleum Finance Notes Issue

Bernitsas Law acted as Greek counsel to Hellenic Petroleum (HP) and Hellenic Petroleum Finance Plc (HPF) in connection with the offering of €74.5m principal amount of new notes issued by HPF and guaranteed by HP to institutional investors, including the Black Sea Trade and Development Bank and the European Bank for Reconstruction and Development, through a private placement.

Placement of a 3.5% Stake in Jumbo SA

We acted as Greek law counsel to Citigroup on the successful placement of a 3.5% stake in Jumbo, a local leading retailer, to international institutional investors through an accelerated bookbuilding process.

Successful Placement of 20% Stake in Grivalia Properties REIC

We acted as Greek law counsel to Eurobank Ergasias on the successful placement of its 20% stake in Grivalia Properties REIC through an accelerated bookbuilding process at a total consideration of c.€180m (Placement) to international and domestic institutional investors, including to Fairfax’s subsidiaries and funds whose investment manager is PIMCO.

Alpha Bank Joint Venture with Centerbridge

We have been advising Alpha Bank on their innovative joint venture with Centerbridge Partners for the establishment and operation of an innovative integrated servicing platform for non-performing bank loans in the Greek market, which is the first licensed servicing company under the very recent Greek legislative and regulatory framework on servicing and transfers of NPLs and has recently started its servicing operations.

Eurobank Ergasias €75.3m Bond Loans

We advised Eurobank Ergasias on two restructurings and the extension of two bond loans in the aggregate amount of c.€75.3m issued by affiliated companies and secured over real estate assets, receivables and corporate guarantees.

Sale and Transfer of €200m Greek Portfolio with Related Security

We advised Commerzbank Aktiengesellschaft in respect of the transfer to it by means of hive-down of a Greek secured bond loans portfolio of c.€200m and the related agency role from Hypothekenbank Frankfurt AG (ex. Eurohypo AG) and the subsequent sale and transfer of the portfolio and related agency role from Commerzbank Aktiengesellschaft to Eurobank Ergasias.

Wert Red Mandatory Tender Offer to Acquire Trastor

We advised Wert Red, a company indirectly controlled by Värde Partners, in connection with its mandatory tender offer (MTO) made to acquire 100% of Trastor, a Greek listed real estate investment company, following completion of Trastor’s rights issue which resulted in Wert Red holding c.54% of the voting rights in Trastor.

Apollo Mandatory Tender Offer to Acquire Astir Palace

We advised Apollo Investment ΗoldCo, a company indirectly controlled by AGC Equity Partners, in connection with its mandatory tender offer (MTO) made to acquire 100% of Astir Palace Vouliagmeni (Astir), and the delisting of Astir’s shares from the Athens Exchange, following the award of the international tender of the Hellenic Republic Asset Development Fund (HRADF) and the National Bank of Greece for the privatisation and re-development of Astir.

Eurobank Ergasias €109m Bond Loan

We advised Eurobank Ergasias SA on the restructuring of one bond loan in the aggregate amount of c.€109m issued by a Greek societe anonyme and secured over receivables (including from a concession agreement) and shares.

Titan Global €300m Multicurrency Term Facility

We acted for HSBC Bank as Agent and ABN AMRO, Alpha Bank (London Branch), National Bank of Greece (London Branch), Eurobank Private Bank Luxembourg, Piraeus Bank, HSBC Bank, Société Générale and Raiffeisen Bank International as Original Lenders in respect of a €300m multicurrency term facility agreement with Titan Global Finance as Original Borrower and Titan Cement Company as Original Guarantor.

Amendment and Restatement of €145m Senior Facilities Agreement in Healthcare Sector

We advised Bayerische Landesbank, BHF-Bank Aktiengesellschaft, Commerzbank Aktiengesellschaft, DZ Bank Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Landesbank Baden-Württemberg, NIBC Bank Deutschland, SEB and Société Générale, Frankfurt Branch as original lenders, Commerzbank Finance & Covered Bond as agent and Commerzbank Aktiengesellschaft, Filiale Luxemburg as security agent in connection with the latest amendment and restatement of a €145m term loan and multi-currency revolving senior facilities agreement to a German based worldwide healthcare company.

Hellenic Petroleum €400m Revolving Bond Loan

We acted for Hellenic Petroleum in connection with the issue of a €400m revolving bond loan with National Bank of Greece as arranger, bondholder agent and paying agent and National Bank of Greece, Eurobank Ergasias, Alpha Bank and Piraeus Bank as subscribers.

Piraeus Group €5bn Euro-Commercial Paper Programme

We advised Piraeus Group Finance as issuer and Piraeus Bank as guarantor, in relation to the re-establishment of their €5bn Euro-Commercial Paper Programme (ECP). ING Wholesale Banking, UBS Investment Bank and Piraeus Bank acted as dealers.

Schur Flexibles Group €82.5m Amendment and Increase of Facilities Agreement

We advised Deutsche Bank AG Filiale Deutschlandgeschäft as security agent and facility agent and Deutsche Bank AG Filiale Deutschlandgeschäftluxembourg, Commerzbank Aktiengesellschaft and Raiffeisenlandesbank Oberösterreich Aktiengesellschaft acting as original lenders, in connection with the amendment and increase of a €82.5m facilities agreement for the financing of the Schur Flexibles Group, the security for which included two Greek law pledges over the shares of a Greek société anonyme.

EIB €25m Finance Contract

We acted for EIB as lender in connection with a €25m finance contract secured by an upstream guarantee granted by an English affiliate of the Greek co-borrower, an entity involved in the telecommunications and software systems sector.

Titan Global Finance €410m Tender Offer and New Notes Issue

We advised HSBC Bank, Merrill Lynch International, Société Générale, Alpha Bank, Credit Suisse Securities (Europe), Eurobank Ergasias, National Bank of Greece, Raiffeisen Bank International acting as the Managers in relation to the invitation by Titan Global Finance to holders of its outstanding 8.75 per cent. Notes due 2017 to tender their Notes for purchase by Titan for cash and the issue and sale by Titan of €300m 3.50 per cent Notes due 2021 guaranteed by its parent, Titan Cement Company.

Piraeus Group €25bn Euro Medium Term Note Programme

We advised Piraeus Group Finance as issuer and Piraeus Bank as issuer and guarantor, in relation to the initial establishment in 2004 and thereafter on the annual update of their €25bn Euro Medium Term Note Programme (EMTN). Deutsche Bank AG, London Branch acted as arranger and as dealer, together with a number of international credit and financial institutions.

Hellenic Petroleum Finance Notes Issues

We advised Ηellenic Petroleum SA (HP) and Hellenic Petroleum Finance Plc (HPF) on a tender offer for the purchase by HPF of notes due in 2017, issued by HPF, guaranteed by HP and listed on the Luxembourg Stock Exchange, and on the issue of €375m new notes by HPF, guaranteed by HP, due in 2021 and listed on the Luxembourg Stock Exchange, with Credit Suisse Securities (Europe) and HSBC Bank as global coordinators and together with Alpha Bank, Eurobank Ergasias, National Bank of Greece and Piraeus Bank as joint bookrunners.

Eurobank Recapitalisation (2015)

We advised Eurobank Ergasias on its c.€2.038bn capital raising made to address its capital requirements determined by the ECB/SSM following the comprehensive assessment of the Greek systemic banks, effected through an international and domestic private placement of new shares to eligible investors, including cornerstone investors and a liability management exercise effectively involving the exchange of Tier 1, Tier 2 and certain senior securities issued by Eurobank or a subsidiary with the guarantee of the bank into new shares in Eurobank.

OTE PLC Tender Offers (2015)

We advised Citigroup, Deutsche Bank and HSBC Bank in connection with the invitations made by OTE PLC to holders of its outstanding (a) €900m 4.625 % Notes due 2016 and (b) €7bn 7.875% Notes due 2018 to tender their Notes for partial repurchase for cash.

OTE PLC Notes Offering (2015)

We advised Citigroup, Deutsche Bank, HSBC Bank and the Co-Managers in connection with the issue and sale by OTE PLC of €350m 4.375% Notes due 2019, pursuant to its €6.5bn Euro Medium Term Note Programme guaranteed by the Hellenic Telecommunications Organization.

€950m Multi-Currency Guarantee Facility

We advised Bayerische Landesbank, BNP Paribas, Niederlassung Deutschland, Commerzbank, HSBC Trinkaus & Burkhardt and UniCredit Bank as bookrunners and mandated lead arrangers, Commerzbank International as agent and Bayerische Landesbank, BNP Paribas Fortis, Niederlassung Deutschland, Commerzbank, HSBC Trinkaus & Burkhardt, UniCredit Bank, Barclays Bank, DZ Bank, Euler Hermes Deutschland, Landesbank Baden-Württemberg, Landesbank Hessen-Thueringen Girozentrale, Norddeutsche Landesbank Girozentrale, Zurich Insurance, KfW and KfW IPEX-BANK as original lenders, in connection with a €950m multi-currency guarantee facility agreement secured by an upstream guarantee by a Greek affiliate of the borrower, a German manufacturer and distributor of standardized electro-mechanical components parts and assemblies in the renewable energy sector.

€450m Bridge and Term Loan Facilities

We advised Bayerische Landesbank, BNP Paribas Fortis, Commerzbank, HSBC Trinkaus & Burkhardt and UniCredit Bank as bookrunners and mandated lead arrangers, Commerzbank International as agent and Bayerische Landesbank, BNP Paribas Fortis, Commerzbank, HSBC Trinkaus & Burkhardt and UniCredit Luxembourg as original lenders, on a €450m bridge and term loan facilities agreement secured by an upstream guarantee by a Greek affiliate of the borrower, a German manufacturer and distributor of standardized electro-mechanical components parts and assemblies in the renewable energy sector.

EIB €100m Multi-Currency Guarantee Facility

We acted for the European Investment Bank as lender, in connection with the amendment of a €100m finance contract secured by an upstream guarantee granted by a Greek affiliate of the borrower, a German manufacturer and distributor of standardized electro-mechanical components parts and assemblies in the renewable energy sector.

Hypothekenbank Frankfurt €75.3m Bond Loans

We advised Hypothekenbank Frankfurt on two restructurings and the extension of two bond loans in the aggregate amount of c.€75.3m issued by affiliated companies and secured over real estate assets, receivables and corporate guarantees.

Broadband Infrastructure PPP Project

We advised National Bank of Greece and National Bank of Greece (Cyprus) in relation to a dual secured revolving facility arrangement involving a €7,000,000 bond loan and a €4,000,000 bond loan, for the financing of a PPP project relevant to the installation, maintenance and operation of broadband infrastructure in Greek ‘white areas’.

HSBC Bank €280m Bond Loan Extension

We acted for HSBC Bank in its capacity as bondholder agent and bondholder in connection with the amendment and extension of a secured €280m bond loan issued by Lamda Olympia Village Societe Anonyme for Real Estate Development and Management.

National Bank of Greece PPP Financing

We advised National Bank of Greece in relation to a triple secured facility arrangement involving a €2.73m bond loan, a €1.46m bond loan and a c.€3.98m fixed term bilateral loan relevant to the JESSICA Holding Fund Greece, for the financing of a PPP project the consortium comprised of Intrasoft International and Intrakat Constructions for their development of the project for the design, finance, installation, operation, maintenance and facilities management of a passengers’ information and fleet management ICT system for the Organisation of Transportation through a PPP.

Recapitalisation of National Bank of Greece, Alpha Bank and Piraeus Bank

We acted on behalf of the Hellenic Financial Stability Fund (HFSF) in aspects of the first recapitalisation of National Bank of Greece, Alpha Bank and Piraeus Bank pursuant to their pre-subscription agreements with the HFSF.

Elpedison Bond Loans

We advised BNP Paribas Securities Services, Intesa Sanpaolo, Banca IMI, HSBC Bank and Edison International Holding on the extension and amendment of a c.€112m bond loan, Eurobank Ergasias, Alpha Bank, Piraeus Bank and HSBC Bank on the extension and amendment of a c.€112m bond loan and Eurobank Ergasias, Alpha Bank and Piraeus Bank on the extension and amendment of a c.€71m bond loan, all issued by Elpedison and secured with corporate guarantees and pledges over receivables.

OTE PLC Notes Offering (2014)

We advised Deutsche Bank, Morgan Stanley and the Co-Managers in connection with the issue and sale by OTE PLC €700m 3.50% Notes due 2020, pursuant to its €6.5bn Euro Medium Term Note Programme guaranteed by the Hellenic Telecommunications Organization.

Piraeus Bank €500m International Notes Offering

We advised Piraeus Bank and its 100% subsidiary, Piraeus Plc, in the offer to international institutional investors of €500m principal amount of senior unsecured notes issued by Piraeus Plc and guaranteed by Piraeus Bank, and their listing on the Luxembourg Stock Exchange under the €25bn EMTN Programme of Piraeus Plc.

USD900m Lombard Credit Facility

We advised Credit Suisse Zurich in connection with a USD900m credit framework agreement (Lombard credit facility) governed by Swiss law to a leading corporate, secured with a pledge over the Swiss bank accounts of the Greek corporation.

Société Générale Paris USD25m Trade and Commodity Finance Facility

We represented Société Générale Paris, Zurich Branch, in connection with a USD25m trade and commodity finance facility governed by Swiss law to a Liberian entity, secured by a personal guarantee of a Greek individual.

Eurobank Recapitalisation (2014)

We advised Eurobank Ergasias on its c.€2.8bn equity capital raising in the context of the second recapitalisation of the Greek systemic banks made in 2014, pursuant to a public offering of new shares in Greece and an international offering of new shares to eligible investors, including to a group of cornerstone investors and their listing on the Athens Exchange.

Hellenic Petroleum €100m Bond Loan

We advised Hellenic Petroleum in connection with the issue of a €100m bond loan with Eurobank Ergasias as arranger, bondholder agent and paying agent and, together with Eurobank Cyprus, as subscribers and secured with a floating charge over crude oil and fuel oil products.

Schur Flexibles Group €56m Facilities Agreement

We advised Deutsche Bank AG Filiale Deutschlandgeschäft as Security Agent and Facility Agent and Deutsche Bank AG Filiale Deutschlandgeschäftluxembourg, Commerzbank Aktiengesellschaft and Raiffeisenlandesbank Oberösterreich Aktiengesellschaft as Original Lenders in connection with a €56m facilities agreement for the financing of the Schur Flexibles Group, the security for which included a Greek law pledge over the shares of a Greek société anonyme.

OTE PLC Tender Offers (2014)

We advised Deutsche Bank and Morgan Stanley in connection with the invitations made by OTE PLC to the holders of its outstanding c.€787m 7.25% notes due 2015 and €900m 4.625% notes due 2016 to tender their notes for purchase by OTE PLC.

Goodyear Group Restatement of €700m Credit Agreement

We represented JPMorgan Chase Bank as Collateral Agent, JP Morgan Europe as Administrative Agent and JPMorgan Chase Bank, BNP Paribas, Bank of America, BCEE Luxembourg, Banque Internationale à Luxembourg société anonyme, Barclays Bank, Citibank, Commerzbank AG Filiale Luxembourg, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, Goldman Sachs Bank USA, HSBC Bank, NATIXIS, The Northern Trust Company, UniCredit Bank and Wells Fargo Bank as Lenders in connection with the amendment and restatement of a €700m credit agreement for the financing of the Goodyear Group, the security for which included a Dutch law pledge over the shares of a Greek société anonyme.

Hellenic Petroleum €200m Revolving Bond Loan

We advised Hellenic Petroleum in connection with the issue of a €200m revolving bond loan with NationalBank of Greece as arranger, bondholder agent and paying agent and NationalBank of Greece and National Bank of Greece (Cyprus) as subscribers.

Famar Group €150m Senior Facilities Agreement

We advised the Famar Group on a €150m senior facilities agreement by Jefferies Finance, Alpha Bank (London Branch), Eurobank Private Bank Luxembourg, Piraeus Bank, National Bank of Greece (London Branch), Bankinter and Credit Lyonnais as initial lenders to a member of the Famar Group secured by upstream guarantees granted by Famar Group companies (including three Greek affiliates of the borrower).

Ideal Standard Refinancing

We advised a private equity firm on the refinancing of Ideal Standard International’s existing debt (involving banks and non-banks) by means of an exchange offer to holders of 11.75% €275m senior secured notes due 2018 to exchange those notes with various series of new notes secured by upstream guarantees by the Ideal Standard group companies and by asset security.

Securitization of Consumer Loans, Credit Card Receivables and Residential Mortgage Loans

We advised international funds in relation to the securitization of consumer credit and credit card receivables with a value of approximately €190m residential mortgage loans receivables with a value of approximately €124m originating from a leading player in the Greek residential loans market, on the initial servicing arrangements for these receivables and on the replacement of the servicer.

Hellenic Petroleum and OTSM Extension of Compulsory Oil Stock Financing

We advised Hellenic Petroleum and OTSM on the extension of a financing transaction involving the sale and purchase of compulsory oil stock relating to the financing of the purchase of crude oil and petroleum products, with Eurobank Ergasias as bondholder agent and facility agent, and Alpha Bank, Eurobank Ergasias and National Bank of Greece as subscribers.

Hellenic Petroleum Finance €500m Eurobond Issue

We advised Hellenic Petroleum Finance (HPF) and Hellenic Petroleum (HP) in connection with a Eurobond Issue by HPF in the amount of €500m, guaranteed by HP with Alpha Bank, Credit Suisse, Eurobank Ergasias, HSBC and NBG Securities acting as joint bookrunners and joint lead managers.

Titan Global €300m Eurobond Issue

We advised Alpha Bank, HSBC Bank, JP Morgan Securities, Eurobank Ergasias, NBG Securities and Société Générale acting as joint bookrunners in connection with a €300m Eurobond Issue by Titan Global Finance guaranteed by Titan Cement Company.

Hellenic Petroleum €325m Eurobond Issue

We advised Hellenic Petroleum in its capacity as guarantor and Hellenic Petroleum Finance in its capacity as Issuer in connection with a €325m Eurobond Issue.

Hellenic Petroleum Dual Facility

We advised Hellenic Petroleum (HP) in relation to a dual facility arrangement involving a €50m credit facility agreement granted by HSBC Bank, Barclays Bank and Credit Agricole (Suisse) to Hellenic Petroleum Finance (HPF) and guaranteed by HP and a €350m bond loan issued by HP with the guarantee of HPF and subscribed by Alpha Bank, Attica Bank, Eurobank Ergasias, HSBC Bank, National Bank of Greece and Piraeus Bank.

Motor Oil €350m Eurobond Issue

We advised Alpha Bank, Citigroup Global Markets, Credit Suisse Securities (Europe), NBG Securities, Piraeus Bank and HSBC Bank, acting as joint bookrunners, in connection with a €350m Eurobond issue by Motor Oil Finance and guaranteed by Motor Oil (Hellas) Corinth Refineries.

European Investment Bank €100m Finance Contract

We advised the European Investment Bank as lender in connection with a €100m finance contract secured by an upstream guarantee granted by a Greek affiliate of the borrower, a German manufacturer and distributor of electro-mechanical components parts and assemblies in the renewable energy sector.

Hellenic Petroleum USD400m Notes Issue

We advised Hellenic Petroleum (HP) and Hellenic Petroleum Finance (HPF) on the issuance and offering by HPF of USD400m senior notes due 2016 guaranteed by HP and their listing on the Luxembourg Stock Exchange.

€550m Facilities Agreement

We advised BNP Paribas, Commerzbank, HSBC Trinkaus & Burkhardt Norddeutsche Landesbank Girozentrale and UniCredit Bank as mandated lead arrangers, Commerzbank AG Filiale Luxembourg as agent, UniCredit Bank as security agent and Bayerische Landesbank, BNP Paribas Fortis SA/NV Niederlassung Deutschland, Commerzbank, Euler Hermes Deutschland, HSBC Trinkaus & Burkhardt, HSH Nordbank, ING Bank, a Branch of ING-DiBa, KBC Bank Deutschland, KfW, KfW IPEX-BANK, Landesbank Baden-Württemberg, Norddeutsche Landesbank Girozentrale, R+V Allgemeine Versicherung, UniCredit Bank and Zurich Insurance plc Niederlassung für Deutschland as current lenders, in the amendment, extension and restatement of a €550m facilities agreement secured by an upstream guarantee granted by a Greek affiliate of the borrower, a German manufacturer and distributor of electro-mechanical components parts and assemblies in the renewable energy sector.

New Hellenic Post Bank and New Proton Bank Acquisition

We advised Eurobank Ergasias on its acquisition of the New Hellenic Post Bank and New Proton Bank from the Hellenic Financial Stability Fund (HFSF) following a process initiated by the HFSF for the divestment of its shares in transitory credit institutions; the transaction took place in the context of the rehabilitation, consolidation and recapitalization of the Greek banking system.

Amendment of EBRD and BSTDB Loan Facilities

We represented the European Bank of Reconstruction and Development and the Black Sea Trade and Development Bank on the amendments of two c.€10m loan facilities to an entity operating one of the leading diagnostic and therapeutic centers in Albania.

€145m Senior Facilities Agreement in Healthcare Sector

We advised Commerzbank Aktiengesellschaft, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Merchant Banking SEB, NIBC Bank and Societe Generalem Frankfurt Branch as mandated lead arrangers, Commerzbank Aktiengesellschaft, Filiale Luxembourg as agent and security agent and various financial institutions as original lenders in connection with a €145m term loan and multi-currency revolving senior facilities agreement to a German based worldwide healthcare company and its amendment and restatement.

Hellenic Petroleum €500m Eurobond Issue

We advised Hellenic Petroleum Finance (HPF) and Hellenic Petroleum (HP) in connection with a Eurobond Issue by HPF in the amount of €500m, guaranteed by HP with Alpha Bank, Credit Suisse, Eurobank Ergasias, HSBC and NBG Securities acting as joint bookrunners and joint lead managers.

US$350m Refinancing in Banking Software Sector

We advised Barclays Bank, The Royal Bank of Scotland, Credit Suisse, HSBC Bank and Banque Contonale Vaudoise as arrangers and original lenders and Barclays Bank as agent, in the refinancing of an existing US$350m corporate loan facility to a German provider of banking software systems.

OTE Group €6.5bn Euro Medium Term Note Programme

We advised the Lead Managers, Co-Managers and Managers from time to time in connection with the initial establishment in 2001 and thereafter on the annual update of OTE PLC €6.5bn Euro Medium Term Note Programme guaranteed by the Hellenic Telecommunications Organization.

Coca-Cola Relisting

We advised Credit Suisse in its capacity as financial adviser and listing agent of Coca-Cola HBC (CCHBC) in connection with the structuring and execution of the relisting of Coca-Cola Hellenic Bottling Company (CCH) pursuant to a voluntary exchange offer made by CCHBC to acquire 100% of CCH and the subsequent relisting of CCH through CCHBC on the premium segment of the official list of the UKLA, its listing on the New York Stock Exchange and its parallel listing on the Athens Exchange, with a transaction value of €5bn.

National Bank of Greece Tender Offer for Eurobank

We advised Eurobank Ergasias in connection with the voluntary share exchange offer launched by National Bank of Greece to acquire 100% of Eurobank.

Paine & Partners Tender Offer for Eurodrip

We advised Paine & Partners the initial acquisition of a 75% stake in Eurodrip, the subsequent mandatory offer made to acquire the remaining 25% stake therein and the delisting of the Eurodrip’s shares from the Athens Exchange.

  • lending: secured, unsecured, syndicated, bi-lateral
  • corporate financings, re-financings
  • acquisition finance: leveraged buyouts, high yield debt transactions, subordinated, mezzanine and senior debt financings
  • financial leasing
  • asset finance
  • OTC derivatives, collateral arrangements
  • asset securitisation
  • sale and management of non-performing exposures and credit card portfolios
  • export credit finance
  • sale and leaseback
  • underwritings
  • bond issues
  • funded participation arrangements
  • private banking
  • venture capital
  • factoring and true sale arrangements
  • international trade finance: letters of credit, bank guarantees, retention of title clauses
  • debt restructurings and workouts
  • security: government guarantees, repos of bonds, coupons issued by the Hellenic Republic
  • transfer of securities: forward purchase agreements, escrow agreements
  • establishment and operation of representative and branch offices of banks and financial institutions
  • assignment of funds granted by European institutions
  • domestic and cross-border electronic banking and financial services
  • mergers and acquisitions of banks and financial institutions
  • domestic and cross-border consumer credit: residential loans, credit cards
  • effect of European Union Banking Directives and Regulations, including European Central Bank Directives in context of the Single
  • Supervisory Mechanism
  • regulatory framework governing banking, finance and capital markets activities
  • initial public and secondary equity and debt offerings
  • primary and secondary listings of state-controlled and private companies on the Athens Exchange
  • tender offers for listed share acquisitions
  • equity and debt securities rights issues
  • private and institutional placements of equity and debt securities
  • delisting of shares from the Athens Exchange
  • transactions in financial instruments, including: derivatives, bonds, repos and options

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