In Banking & Finance
YLP acts for Black Sea Trade and Development Bank in agreeing a EUR 50 million loan for Hellenic Telecommunication Organization (OTE)
YLP acts for Black Sea Trade and Development Bank
in agreeing a EUR 50 million loan for Hellenic Tele-communication Organization (OTE)
Your Legal Partners acted for the Black Sea Trade and Development Bank (BSTDB) in providing a EUR 50 million loan on a parallel basis as part of a EUR 339 million loan granted by EBRD and a syndicate of commercial banks. The mandated lead arranger on the syndicated loan was the National Bank of Greece. The lead arrangers were HSBC and Hellenic Bank Public Company, while BNP Paribas, Nomura International, Alpha Bank, Piraeus Bank and Cordiant participated as arrangers. The funding will be used to finance a number of strategic investments by OTE in Greece including the development of next-generation networks and IP networks as well as other innovative products and services.
It is a landmark funding deal by supranationals together with commercial banks in Greece aiming to reopen syndicated loans to corporates.