Zepos & Yannopoulos is proud to support as lead legal advisor Piraeus Bank and Eurobank in their capacities as Mandated Lead Arrangers and Coordinators in respect of the financing for the 35 years concession agreement regarding the financing, operation, maintenance and exploitation rights of Egnatia Odos Motorway and its 3 vertical road axes, as such was signed on 29.3.2024 between, on the one hand, the Hellenic State and the Hellenic Republic Asset Development Fund and, on the other, the Concessionaire ‘’NEA EGNATIA ODOS CONCESSION SOCIETE ANONYME” and its initial shareholders, ‘’GEK TERNA S.A.’’ and ‘’EGIS PROJECTS S.A.S.’’
The concession of the Egnatia Motorway, which includes the main motorway (700Km) and three vertical axes (225Km) will reach its completion and financial closing later this year, following the fulfillment of relevant conditions precedent. It marks a new chapter in the history of the motorway, with significant benefits for the users, Northern Greece and the national economy as a whole, as for the first time heavy maintenance will be carried out on the motorway and the three vertical axes connecting Greece with Albania, North Macedonia and Bulgaria. In parallel, within five years of the start of the concession, significant investments of more than 420 million euros will be completed for the upgrading of the motorway and the vertical axes.
Throughout the process, we have advised Piraeus Bank and Eurobank in relation to the entire spectrum of the project financing matters, comprising the project due diligence as well as drafting of the full suite of finance documents and advice to the banks in respect of the project documents.
Paris Tzoumas, partner, and Magda Tsatsi, associate of our Finance & Capital Markets practice led our team, assisted by associates Penelope Klara and Katerina Chalka.
The due diligence team consisted of Sofia Chatzigiannidou, head of Public Procurement and Concessions, Smaragda Spyrou and Nikos Koukos, senior associates, and Katerina Vogiatzi, associate, for public procurement, regulatory and project documents matters, Danai Falconaki, partner, for corporate law matters and Manolis Zacharakis, partner, and Alexandros Lamprou, associate, for employment law matters.
