4 December 2024
Karatzas & Partners advised National Bank of Greece S.A. and Eurobank S.A. as Lead Arrangers in arranging and coordinating a debt financing package of up to €750 million, out of which €600 million to partially fund the acquisition of at least 67% of shares in Terna Energy S.A. by UAE’s global-scale Energy pioneer, Masdar. Financial closing ultimately concluded on a club-deal basis to accommodate NBG, Eurobank, Piraeus S.A. and Alpha Bank S.A. as Arrangers. The facilities’ quantum may, under conditions, reach in total €1,125 million.
The €3.2 billion acquisition, in enterprise value terms, is the largest-ever Energy transaction marked in the Athens Stock Exchange and it also ranks amongst the largest transactions concluded in the EU Renewables industry overall.
Partner Nikos Fragos, senior counsel Eleana Rouga, and associates Iliana Ioannou and Angeliki Saringala advised the lenders on all financing and securities law related matters. Energy law aspects were covered by our partner Valia Apostolopoulou and associate Konstantina Meletiadou.