We are extremely happy to share that AKL acted as legal adviser to Piraeus Bank in its capacity as, inter alia, Coordinator, Mandated Lead Arranger, Lender and Bondholder Agent in connection with a €710 million bond loan financing extended to Ella Hotels, a hospitality platform backed by H.I.G. Capital.
Ella Hotels operates a growing portfolio of high-quality assets in key tourist destinations and is pursuing a strategy focused on further growth through acquisitions and development.
The transaction forms part of a broader recapitalisation of the Ella Hotels Group and supports the refinancing of existing indebtedness, the funding of capital expenditure and hotel developments, as well as the financing of acquisitions and the continued expansion of its hospitality platform across Greece and other Mediterranean markets.
AKL advised on all aspects of the financing, including the structuring of the bond loan, the drafting and negotiation of the finance documents and the implementation of the security package, as well as on all real estate matters related to the financing.
The Banking & Finance team was led by Alexandros Kosmopoulos, Head of Banking & Finance, with the support of Georgios Rafail Athanassiou, Senior Associate, and Aliki Christodoulia and Eleni Ploumi, Associates. Real estate aspects of the transaction were handled by Helen Alexiou, Head of Real Estate, with the support of Eleftheria Vassila, Vicky Zarakioti and Stamatia Tsopela, Senior Associates.
This transaction represents one of the largest financings in the Greek hospitality sector in recent years and highlights the continued strength and growth of the tourism industry, as well as the availability of significant liquidity for high-quality sponsor-backed platforms.
We would like to thank all parties involved in the successful completion of this transaction!