Koutalidis Law Firm acted as legal advisor to the “Banks” for the provision of financing to HEDNO S.A.
Koutalidis Law Firm acted as legal advisor to Eurobank S.A., National Bank of Greece S.A., and Piraeus Bank S.A. (the “Banks”) for the provision of financing to the Hellenic Electricity Distribution Network Operator S.A. (“HEDNO”), through the issuance of a bond loan up to an overall amount of €660 million. The bond program includes an “accordion” option, allowing for the increase of the loan by €440 million reaching a total amount of €1 billion.
The Banks acted as subscribers of the bond loan while Eurobank S.A. was appointed bondholder agent, paying agent, and account bank and the proceeds from the issue of the loan will be used (inter alia) for financing part of the company’s capital expenditures.
The size of the deal as well as the particular terms and conditions of the bond loan documentation, which includes also hedging agreement provisions, maximized the complexity of the transaction.