AKL advised Alpha Bank S.A., in its capacity as original subscriber, mandated lead arranger, bondholder agent and administrative agent, in connection with the issuance of an up to €362 million common bond loan by Astir Palace Vouliagmenis S.A. Being a market leader in the hospitality sector and the owner of the ultra-luxury hospitality resort identified as “Four Seasons Astir Palace Hotel Athens”, as part of a structure involving three different jurisdictions. The funds will be used for the refinancing of the existing banking indebtedness of Astir Palace Vouliagmenis S.A. and for the funding of the construction costs of the project of comprehensive re-development of the tourist port - marina of Vouliagmeni.
The transaction involved negotiating facility agreement, ancillary facility agreements, hedging agreements and security documents, on the lender’s side. The refinancing of the existing indebtedness as well as the extremely tight schedule increased the complexity of the financing structure.