Zepos & Yannopoulos acted as advisor on matters of Greek law to the Joint Global Coordinators (HSBC Bank plc, Mediobanca-Banca di Credito Finanziario S.p.A. and Merrill Lynch International), to the Joint Bookrunners and to the Co-lead Managers in the latest recapitalization of Eurobank Ergasias S.A.
Finance & Capital Markets
Zepos & Yannopoulos advised Thomas Cook Hotel Investments (TCHI), a joint venture between Thomas Cook plc and LMEY Investments AG, in a €40 million loan financing with Piraeus Bank. The transaction is the first in the strategic partnership of the two sides to grow TCHI’s investments in local hotel properties with Piraeus Bank as sole financier.
Zepos & Yannopoulos advised Famar in the restructuring of its €234 million debt and recapitalisation from private equity-backed Pillarstone platfrom, established by KKR and John Davison. Pillarstone Greece is among the first licensed servicing entities in Greece, founded to service non-performing exposures of the four Greek systemic banks under Greek law 4354/2015 on NPLs. Famar was the first account to enter in the platform and the second successful transaction of Pillarstone in Greece after Notos department stores earlier this summer.
We acted as transaction counsel for the establishment of and first, €500 million, issue under Eurobank’s new €5 billion covered bond programme backed with EUR-denominated and CHF-denominated Greek residential mortgage loans. The deal was arranged by Barclays.
Zepos & Yannopoulos advised the European Investment Bank (EIB) and the European Investment Fund (EIF) on the €101 million securitisation of automotive lease receivables for small and medium-sized enterprises (SMEs) originated by Autohellas SA, one of the leading independent car leasing companies in Greece.
Zepos & Yannopoulos advised CarVal Investors and Intrum on the acquisition of a portfolio of non-performing unsecured retail and small business loans of an outstanding principal amount of c.€2.0 billion sold by National Bank of Greece (Project Earth).
Zepos & Yannopoulos is pleased to announce that Christina Papanikolopoulou, partner, head of the Finance & Capital Markets team of the firm, was named one of IFLR1000’s Women Leaders, an elite cohort of the 300 leading female transactional experts in local markets globally. Christina is one of just three practitioners in Greece to be included in the guide.
Piraeus Bank, a Greek systemic bank, agreed to sell to Bain Capital Credit, an international financial investor, a portfolio of commercial backed NPEs with gross book value of €1.45 billion.
This pioneer transaction marks the long awaited opening of the secured NPE market in Greece following a series of legislative initiatives and regulatory NPE reduction targets in the last few years aiming to establish a liquid market for the nearly €100 billion of NPEs of the Greek banks.
Zepos & Yannopoulos was invited to join the 2018 Counsel Workshop of the International Finance Corporation, a two-day workshop held in Cairo, Egypt on the 7th and 8th of February 2018 and bringing together the IFC with its local counsel teams in jurisdictions across Europe, Middle East and North Africa.
Our firm was the only Greek firm participating in the workshop and was represented by Christina Papanikolopoulou, head of our finance & capital markets practice group.
On 29 January 2018, Christina Papanikolopoulou participated in the 1st Annual Investors’ Conference on Greek and Cypriot NPLs launched by the International Management Network, organiser of the annual global ABS conference, a leading forum for structured finance and assetbacked securities transactions. Christina moderated a panel discussing the Role of Securitisation in NPL resolution.