Karatzas & Partners advised Athens International Airport’s 20-year extension concession agreement

Karatzas and Partners advised Athens International Airport with the successful completion of the structuring co-arrangement and documentation signing for an up to EUR665.6m bond loan facility, by National Bank of Greece S.A. and Piraeus Bank S.A on an equal basis.

The Facility proceeds will be used to partially finance the consideration of EUR1,115 m (excluding VAT) payable by the Company to the Hellenic Republic Asset Development Fund for the 20-years extension, until June 2046, of the original concession period that had been granted to the Company, in order to manage and operate Athens International Airport pursuant to the Airport Development Agreement dated 31 July 1995. The transaction was completed in accordance to a tight timeline customised to meet the Company’s needs, whilst addressing its structural complexities and the diverse stakeholders’ requirements. Facility drawdown remains subject to the satisfaction of customary.

Smooth cooperation between the Athens International Airport management, advisors and co-financing partners, produced an agreement that can be characterized as a landmark transaction for the Greek economy.