Banking & Finance

Banking & Finance

DVLaw’s practice encompasses a comprehensive range of activities within the banking and finance industry, regularly acting for major Greek banks, international investment banks, large and medium-sized corporates and high net-worth individuals on all types of domestic and international financing transactions, including corporate finance, real estate financing, leveraged & acquisition finance, asset finance, project finance, mortgage lending and structured finance.

Our firm’s leading position in banking and finance is best exemplified by its participation in some of the most innovative and complex domestic and cross-border structured finance and securitisation deals to be put in place in Greece in both private and public sectors that required in-depth knowledge of the legal and regulatory framework and the ability to adapt to the constantly evolving financing requirements. In doing so, the firm has often been the interlocutor with the state and the regulator, providing input for the development of new financing tools.

Practice Highlights

• DVLaw acted as the Greek law transaction counsel for the update of NBG’s €10 billion Covered Bond Programme I, so as to adjust it to the new Greek Covered Bond Legislation provisions, i.e. Greek law 4920/2022 that has transposed into national legislation Directive (EU) 2019/2162 of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and covered bond public supervision (the “Covered Bond Directive”) and the implementing BoG Executive Committee Act 215/2023). See more

• DVLaw has acted as Greek law legal adviser on behalf of Piraeus Bank in all aspects of a financing of up to €105,000,000 (loan facility) and up to €12,500,000 (L/G facilities) of subsidiaries of Bain Capital LP for the acquisition of the leasing company Sunshine Leases S.M.S.A and its portfolio of financial leases. See more

• DVLaw acted as the Greek law counsel to Piraeus Bank for the update of its €10 billion Covered Bond Programme, so as to adjust it to the new Greek Covered Bond Legislation provisions, i.e. Greek law 4920/2022 that has transposed into national legislation Directive (EU) 2019/2162 of the European Parliament and of the Council of 27 November 2019 on the issue of covered bonds and covered bond public supervision (the “Covered Bond Directive”) and the implementing BoG Executive Committee Act 215/2023). See more

• DVLaw has acted as Greek law legal adviser on behalf of the Greek law bond loan issuer Depa Infrastructure S.A. in connection with the €580 million financing or refinancing of the acquisition by the Issuer of 49% stake in its subsidiary (EDA Thessaloniki), as well as for capex pertaining to the gas transmission assets relating to the Natural Gas Distribution Network and for general corporate purposes. See more

• DVLaw has acted as Greek law counsel of APS, a Czech asset management and investment group, in all matters relating to the financing of subsidiaries of APS from Eurobank for amounts up to €65 million for the acquisition from Bain Capital LP of receivables deriving from the Icon portfolio. See more 

• DVLaw was involved in one of the first secondary NPL transfers in Greece, acting as Greek law legal adviser on behalf of Piraeus Bank in connection with the financing of the acquisition of receivables and real estate assets extracted or deriving from a certain NPL portfolio acquired by such investment fund. See more

• DVLaw advised Piraeus Bank in the €4.9 billion HAPS securitization transaction VEGA. See more

• DVLaw advised Quant in its long-term servicing agreement with Pancreta Bank for the servicing of a c. 670 million NPL portfolio. See more

• DVLaw advised the Joint Arrangers Deutsche Bank and Alantra in Alpha Bank’s €10.8 billion HAPS securitization transaction GALAXY. See more

• DVLaw advises the Joint Arrangers for issuance under Alpha Bank’s Covered Bond Programme. See more

• DVLaw advises NBG for issuance under its Covered Bond Programme See more

• DVLaw advises Piraeus Bank for issuance under its Covered Bond Programme See more

• DVLaw advised NBG in SINEPIA securitsation transaction See more

• DVLaw acted as legal counsel to National Bank of Greece S.A., EFG Eurobank S.A., Alpha Bank S.A., Piraeus Bank S.A., Attica Bank S.A. and First Business Bank – FBB S.A. in connection with the establishment of programmes for the issuance of debt instruments guaranteed by the Hellenic Republic and the issuance of debt instruments thereunder pursuant to Greek law 3723/2008.

• Acted as legal counsel to the Greek Ministry of Finance in connection with the preparation of pro forma contractual documentation to be executed by the Hellenic Republic in the context of the support measures of €28,000,000,000 provided to Greek credit institutions under law 3723/2008 “for the enhancement of liquidity of the economy in response to the impact of the international financial crisis”.

• DVLaw acted as Greek legal counsel to the Cypriot bank Marfin Popular Bank Public Co Ltd. (the Issuer) in connection with the transfer and undertaking by it of the rights and liabilities of the Greek bank Marfin Egnatia Bank S.A. (the Original Issuer) under the latter’s €3 billion residential mortgage loans covered bond programme established on 17/11/2008, due to the merger of the Original Issuer into the Issuer and the registration of the programme with the register of covered bonds kept with the Central Bank of Cyprus in March 2011 in accordance with the adopted Cypriot legislation on covered bonds.

• Acted as Greek legal counsel to a group of Greek and foreign banks acting as arrangers in connection with the securitization of a portfolio of business loans of Marfin Egnatia Bank S.A., involving the issue by Synergatis PLC of €3,300,000,000 notes in 19 August 2009.

• Acted as Greek legal counsel to Piraeus Bank S.A. in connection with the securitization of a portfolio of consumer loans involving the issue by Praxis I Finance Plc of €725,000,000 notes in April 2009.

• Acted as Greek legal counsel to a group of Greek and foreign banks acting as arrangers in connection with the securitization of a portfolio of allilohreos contracts of EFG Eurobank Ergasias S.A., involving the issue by Anaptyxi SME II 2009-1 Plc of €3,300,000,000 notes in February 2009.

• Acted as Greek legal counsel to a foreign investment bank acting as arranger in connection with the securitization of a portfolio of corporate and sovereign bonds of Alpha Bank S.A. involving the issue by Talanto Plc of €1,241,460,000 notes in February 2009.

• Acted as Greek legal counsel to a group of Greek and international banks and investment firms acting as arrangers in connection with the securitization of a portfolio of corporate and sovereign bonds of EFG Eurobank Ergasias S.A. involving the issue by Saturn Finance Plc of €933,500,000 notes in November 2008.

• Acted as Greek legal counsel to a group of Greek and international banks and investment firms acting as arrangers in connection with the securitization of a portfolio of SME corporate bonds of EFG Eurobank Ergasias S.A., involving the issue by Anaptyxi SME I Plc of €2,500,000,000 notes in July 2008.

• Acted as Greek legal counsel to a foreign investment bank acting as arranger in connection with the securitization of a portfolio of corporate bonds of National Bank of Greece S.A., involving the issue by ETERIKA Plc of €1,340,000,000 notes in July 2008.

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