Banking & Finance

Machas & Partners represents lenders and borrowers in all types of financing transactions including credit facility arrangements and related security packages, structured and project finance deals, and also transactions relating to OTC derivatives. The firm also advises individuals and legal entities in connection with consumer protection cases.

We provide fully integrated advice across the entire credit cycle, from the debt origination to amendments, debt buy-backs, distressed refinancings and the restructuring and renegotiation of debt instruments in capital structure. Machas & Partners represents borrowers and lenders in relation to the restructuring of a wide range of financings involving various industries. Our experience captures in- and out-of-court restructurings, financial recapitalizations, business reorganizations and liquidations. We advise on insolvency issues in corporate and financing transactions and on distressed debt trading and securities issues.

Our clients include all major Greek credit institutions, some of the world’s largest commercial banks, investment banks, investment banking firms, private investment funds and other institutional lenders and investors, as well as LBO sponsors, private equity funds, hedge funds, strategic buyers, borrowers and issuers of securities.

We have advised:

  • APS Delta S.A., member of the APS Group, in the acquisition of an NPL portfolio of consumer, credit card and small debt worth over EUR 2.2bn. (October 2018)
  • Financial Advisor Euroxx Securities S.A. with respect to the public offering of a corporate bond issued by Systems Sunlight S.A., member of the Olympia Group,  and its listing on the Athens Exchange. (June 2017)
  • FG Europe in its capacity as issuer in connection with the issue of a €65m syndicated secured bond loan for the refinancing of existing indebtedness. Loan syndication included all Greek systemic banks. Eurobank Ergasias S.A. acted as lead arranger and bondholder agent. (January 2014)
  • Lamda Development S.A., a listed company operating in the real estate development sector, regarding a follow-on offering of stock through a public offer (2014)
  • an international bank based in London in connection with a €40m secured credit facility extended to a Bulgarian corporate acting in the steel industry for the refinancing of its existing indebtedness. (December 2013)
  • P4-Play, a subsidiary of Olympia Development S.A., on the issuance of Pik Bonds of an amount between €400 - €500m. (2014)
  • Olympia Development S.A. in connection with the issue of € 900 m HY bonds. Allen & Overy acted as international legal counsel. (November 2013)
  • a US-based investment fund, in connection with the financing of a Greek company managing one of the largest casino resorts in Europe. (August 2013)
  • in the context of the restructuring of the Greek banking sector, Monarch Alternative Capital LP, a leading US distressed fund, in connection with its submission of a bid in the public tender conducted by the Hellenic Financial Stability Fund for the sale of its 100% participation in a domestic credit institution. (July 2013)
  • a leading Greek insurance company with regard to the drafting and presentation of its restructuring plan to the relevant supervisory committee of the Bank of Greece. (March 2013)
  • the management of a pension fund in connection with the recapitalisation of a Greek credit institution. (March 2013)
  • the major shareholder of a Greek credit institution in relation to the recapitalization of that credit institution. (March 2013)
  • a U.S. based investment fund in relation to a €150m hybrid securities investment in a Greek listed Company. (January 2013)
  • TT Bank and Pancretan Bank in connection with Urban Development Fund Crete, a multi-million euro development project. (September 2011)

For more information about our Banking and Finance practice please contact Tom Kyriakopoulos.