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George Naskaris | Koutalidis Law Firm

Key Practice Areas

Languages

  • Greek, English, French

George Naskaris

Partner

EDUCATION & PROFESSIONAL QUALIFICATIONS

Education

  • University of Athens, Law School (Ph.D in Tax Law (Dr. juris), 2013)
  • University of Lancaster (LL.M. in International Law and International Relations, 1995)
  • University of Athens, Law School (LL.B., 1994)
  • The American College of Greece (B.Sc. in Business Administration, 1992)
Professional Qualifications
  • Hellenic Bank Association; internal tax counsel (since 2016)
  •  Piraeus Bar Association (Greece); admitted 1996

RECENT WORK

  • Advised Alpha Bank S.A. on matters of Greek tax Law on the successful issuance of a landmark Euro 500 million Tier 2 subordinated bond. The issuance optimises the Bank’s capital structure and is a key milestone in the implementation of the Bank’s strategic plan. The Tier 2 bond, listed on the Luxembourg Stock Exchange, has a 10-year maturity callable after 5 years at a yield of 4.25%. The transaction was completed in February 2020.
  • Advised the Joint Lead Managers of the Hellenic Republic’s issuance of €2,500,000,000, 1.875 per cent Notes due 2035, on the terms and conditions set out in the offering circular prepared by the Republic and dated 31st January 2020, on matters of Greek tax law. The Notes were issued in dematerialised and uncertificated form registered within the Bank of Greece System for Monitoring Transactions in Book-entry Securities established pursuant to Law 2198/1994, of the Republic and are listed on the Athens Exchange. According to the PDMA’s announcement, “This 15-year benchmark issue represents the bond with the longest tenor that has been issued by the Hellenic Republic since the onset of the financial crisis, in 2009. Furthermore, it constitutes the first time that the Hellenic Republic comes to the market with a new, all-new-money bond whose maturity is longer than 2032, the year when the long-term relief measures for the Greek debt are expected to expire. In this regard, the transaction demonstrates the trust of the investor community towards the Greek State and represents yet another illustration of the country’s return to “normality” in international capital markets.This transaction is also the first GGB syndication after the end of Hellenic Republic’s fiscal adjustment programme to be priced vs. mid-swaps, rather than yield, further highlighting Greece’s return to European government bond (“EGB”) space.”
  • ​Advised the sellers, including the investment fund Southbridge Europe Mezzanine, on matters of Greek tax law in connection with the sale of Arivia group to Upfield. Arivia is a fast growing plant-based dairy alternative manufacturer, with a strong presence in a large number of markets across the globe. The transaction was signed in October 2019 and is currently in the completion stage.
  • Advised a consortium of Banks led by Goldman Sachs and Credit Suisse on matters of Greek  tax law in connection with a €500m fixed rate unsecured bond issue and tender for notes purchase​ launched by Hellenic Petroleum. The bonds are listed on the Luxembourg Stock Exchange. Hellenic Petroleum is one of the leading energy groups in South East Europe, with activities spanning across the energy value chain and presence in 6 countries. The deal was completed in October 2019.
  • Advised a consortium of Banks led by Goldman Sachs and JP Morgan on matters of Greek tax law in connection with a €525m high yield bond issue by the WIND Hellas group and the signing of a new €75m revolving credit facility. WIND Hellas is one of the largest telecommunications companies in Greece, offering its customers various services, including mobile telephony, fixed telephony & internet services.​ The deal was completed in October 2019.
  • Advised the Joint Lead Managers of the Hellenic Republic’s issuance of €2,500,000,000, 1.875 per cent Notes due 2026, on the terms and conditions set out in the offering circular prepared by the Republic and dated 19th of July, 2019, on matters of Greek tax law. The Notes were issued in dematerialised and uncertificated form registered within the Bank of Greece System for Monitoring Transactions in Book-entry Securities established pursuant to Law 2198/1994, of the Republic and are listed on the Athens Exchange.
    According to the PDMA’s announcement, This 7-year benchmark issue, added yet another point to Greece’s yield curve, priced with the lowest yield (1.90%) and lowest coupon (1.875%) that the Hellenic Republic has ever achieved for a Euro-denominated benchmark syndication. Moreover, this transaction represents the first time that the Hellenic Republic came to market with three syndications in one year since 2010, demonstrating the normalization of Greece’s access to international capital markets.