Our Banking practice covers the full range of international and domestic finance activities with particular emphasis on structured products, securitisations, asset finance, project finance, LBOs. Our capital market practice covers, EMTNs, IPOs as well as equity linked issues (including convertibles). We have a very strong record in international, high profile, pioneer (mostly first in the kind in Greece) and intellectually demanding finance legal work. We have acted for some of the world’s leading investment and commercial banks.
Your Legal Partners most recent experience includes:
KA Finanz Municipality Loan Portfolio / Athens Transport Organization Bonds
Advice to KA Finanz (former Kommunalkredit) in relation to sale of a portfolio of Municipality Loans to hedge fund. Our role has been to assess legal documentation and work on Greek Law issues of the Purchase Agreement. We also represented same client as bondholders of Athens Transport Organization Bonds guaranteed by Greek government regarding ECB eligibility of the bonds as an event of default, the rights of the bondholder under both UK and Greek law and implications due to Greek PSI program. In addition we advised client regarding sale of the bonds to an international fund.
Advice to investment funds with regard to the Invitation of the Greek Government for Private Sector Involvement (PSI). We also currently advise hedge funds on regulatory matters. We have been mandated by several US Investment Funds as local legal advisor in relation to several covered bonds and securitisation transaction in Greece as to Greek law matters and strategy for risks mitigation.
Your Legal Partners has been named 2013 winner of the International Hedge Fund Awards being a law firm successfully advising on hedge funds in the current market.
Refinancing of a loan to a major office furniture company (Dromeas S.A)
We acted for the Arrangers Emporiki bank S.A., Eurobank Ergasias S.A and Piraeus Bank S.A. The bond loan was subscribed by a syndication of major Greek banks.
Refinancing of a bond loan granted to Notos Com Holdings S.A, major retail shop
We acted for the Arrangers, Emporiki Bank S.A and National Bank of Greece S.A. The bond loan of 89 million Euros was subscribed by a syndication of major Greek banks and the collateral package entailed floating charge over merchandise.
Refinancing of a loan facility to COOLINVEST HOLDING SA guaranteed by FRIGOGLASS SAIC
Your Legal Partners’ acted as legal advisers in Greece to the facility agent, HSBC. The loan amounted to 54 million Euros.
Monetarization of crude oil
Acting for HELPE S.A. (Hellenic Petroleum S.A) as Greek legal counsel in a monetarization deal of crude oil and product held by HELPE which was sold to an SPV which funded the purchase price by issuing bonds to banks among which Alpha Bank SA, Eurobank Ergasias SA and National Bank of Greece SA (the Mandated Lead Arrangers or Bondholders) under a €175 million secured bond loan governed by Greek law. Complex regulatory matters regarding oil stock reserve requirements had to be taken into consideration.
Refinancing of a syndicated bond Loan to Monotez S.A
We advised a syndication of banks with arrangers Millennium Bank and National Bank of Greece in relation to financing of a major Greek exporting company Monotez S.A. Our firm has undertaken the due diligence including two industrial properties as well as the drafting of the finance documents and the collateral documents. It was a multi-jurisdictional deal given that the collateral involves subsidiaries in different jurisdictions. The load was aborted due to sale of the company.
KION II Mortgage and KION CLO Finance No 1 Securitizations
We acted for Banco Commercial Portugues as the Arranger with regard to unwinding of a residential mortgage portfolio of Millennium Bank S.A as well as a securitisation of a residential mortgage portfolio (KION III) and a securitisation of a CLO portfolio 1 billion EUROS and 385 M CHF respectively.
Hellenic Bank LTD
We have been external legal counsel for Hellenic Bank’s branch in Greece in relation to all kind of legal issues related to the operations in Greece, including among others banking regulatory issues, reviewing contractual terms, litigation, etc. We have advised Hellenic Bank in the transaction of the sale and transfer of assets and deposits to Piraeus Bank and we are their legal counsel for all the issues of their presence in Greece since the above transfer.
Black Sea Trade and Development Bank
We have acted as Greek legal advisers for Black Sea Trade and Development Bank in relation to several loan agreements granted to Greek enterprises.
Piraeus Bank master trust type credit cards and open loans securitization PRAXIS II
Your Legal Partners advised on a master trust type credit card and open loans securitization by Piraeus Bank rated by Moody’s. The portfolio being securitised consisted of credit card and open loan accounts. The transaction, which involved the issue of €379,200,000 Class A Notes and €178,800,000 Class B Notes was arranged by Morgan Stanley & Co International plc.
Piraeus Bank Greek Allilohreos securitization AXIA III
Your Legal Partners advised on a master trust type allilohreos securitization by Piraeus Bank rated by Moody’s. The securitised portfolio consisted of allilohreos accounts, a specific Greek bank product. The transaction, which involved the issue of €1,670,100,000 Class A Notes and €682,100,000 Class B Notes was arranged by Citigroup.
Emporiki Bank Wind Parks Project Finance
We acted for Emporiki Bank in relation to refinancing of a wind park and the financing of two new wind parks of total capacity of 22MW included in Jasper Wind’s investment programs. Our involvement included a due diligence related to project documents, permits, environmental terms etc for all three SPVs and the Sponsor as well as drafting of all finance and collateral documents.
NBG 2 billion € Covered Bonds Programme
We have acted as Greek legal advisers to the Arrangers, Deutsche Bank, Unicredit and National’s Bank subsidiary NBGI in connection with the issue by National Bank of Greece of 2.0 billion Euros in covered bonds as part of a 10 billion euro issuance plan. This was the first direct covered bond issuance to be put in place in Greece and has been proven highly demanding in respect with Greek law issues without precedent. During our involvement we also participated in a panel assigned with an amendment of relevant regime to include also Italian type covered bond issuances.
Update of NBG Covered Bond Programme and advice to Lead Managers in connection with Series 3 and Series 4 issue under the NBG CB Programme
We also acted on behalf of the Arrangers for the update of the above programme as well as on behalf of Lead Managers of the Series 3 and 4 €1,5 billion issue.
Piraeus Bank AXIA I SME Securitisation and AXIA II SME Securitisation
We acted as the legal advisor of Piraeus Bank S.A., on its first business loans securitization issue worth of 175 million € (AXIA I). The securitization of Piraeus Bank’s business loans was made by Axia Finance Plc, a UK-based company. Deutsche Bank (London Branch) was appointed as Arranger of the issue and Moody’s rated the issue. We also acted as legal advisors to Piraeus Bank S.A. on its second SME securitisation transaction (AXIA II).