Our firm has recently acted as legal advisor to Piraeus Bank S.A in connection with a €15 million financing to a group of companies active in the luxury hospitality industry.
The financing was co-funded by the EU under the Recovery and Resilience Facility (RRF). The transaction involved a complex multi-layer financing structure comprising of a revolving credit facility and multiple intergroup tiered bond loan issuances interconnected with cross-collateral securities and cross-default provisions as well as synchronized funding mechanics and interdependent disbursement conditions.
The proceeds of the bond loan will be used to finance the refurbishment and energy upgrade of an existing hotel asset located in Athens. The project focuses on the implementation of advanced energy efficiency solutions, contributing to the decarbonisation of the hospitality sector.
The transaction was led by Partner, Ioannis Charalampopoulos with valuable support by Associates, Aphrodite Kazani and Despoina Douka.
