Piraeus Bank (“Co-Arranger”), and National Bank of Greece, Jointly Act as “Structuring Banks” of a EUR 400m Syndicated Loan Facility to Independent Power Transmission Operator (“IPTO”)
Piraeus Bank and National Bank of Greece are pleased to announce the successful completion of the structuring, co-arrangement and documentation signing for an up to EUR400m syndicated bond loan facility issued by IPTO with NBG acting as Coordinator along with Piraeus as Structuring banks and Bank of China (Luxembourg) S.A and Alpha Bank all jointly as Mandated Lead Arrangers.
The Facility is a long-term (6-years) financing and the proceeds will be used to refinance existing IPTO’s loans as well as for its corporate needs, safeguarding the uninterrupted implementation of its investment plans which include, inter alia, the interconnection and modernization of the electricity network in the islands and the mainland of Greece. The technical completion of the transaction was performed within the tight timeline required by the Company.
Mrs. Eleni Vrettou, Executive General Manager, Chief of Corporate and Investment Banking at Piraeus Bank commented: “Piraeus Bank, through its Corporate & Investment Banking General Division, reaffirms its leading role in the support of strategic projects in the energy and infrastructure sectors in Greece, thereby contributing to the country’s economic growth. Facing a challenging domestic and global environment, the completion of this financing transaction constitutes an important milestone in the context of Piraeus Bank’s firm commitment to supporting Greek entrepreneurship and our clients, thanks to the expertise, track record and professionalism of our high caliber team.”
Mr. Vassilis Karamouzis, General Manager, Corporate & Investment Banking at NBG commented accordingly: “The Financing reaffirms the strategic focus and the continuous support provided by NBG to the Energy Sector, particularly important for the Greek Economy, strengthens its long-term cooperation with the Company and highlights its leading role in organizing, structuring and covering complex transactions. NBG continues to play a leading role in large strategic transactions that reinforce and accelerate the development of the country's infrastructure, capitalizing its wide know-how on energy sector, its experienced staff and its competitive advantages with ultimate focus on serving customers’ needs”.
Athens, 25 September 2020