Zepos & Yannopoulos acted as the Greek legal counsel of HSBC Bank plc (HSBC) in its capacity as Transaction Coordinator and together with NBG as Joint Arrangers, and of the Investors listed below, in relation to a securitisation of loans to small and medium-sized enterprises (SMEs) originated by NBG (the Transaction), the first non-retained listed securitisation in the Greek market since 2007. The value of the transaction is approximately Euro 650 million; the securitisation notes were admitted to the Official List of the Main Securities Market of the Irish Stock Exchange.
The senior notes, rated at BB by S&P and B- by Fitch, were placed with the European Investment Bank (EIB), the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD) (the Investors).
Clifford Chance LLP acted as international counsel to HSBC and the Investors. Orrick, Herrington & Sutcliffe and Dracopoulos & Vassalakis acted respectively as the international and Greek legal counsel of NBG.
The transaction was led by Christina Papanikolopoulou, assisted by Elena Papachristou, Kely Pesketzi and Mary Nigritinou. Daphne Cozonis and Katerina Vagia were involved on the tax side.