Banking, Finance & Capital Markets

With more than 15 years of recognition as a leading firm by The Legal 500, our Banking & Finance practice has built a strong track record in advising on complex and high-value transactions. The firm regularly acts for leading domestic, UK, US and other international commercial and investment banks, as well as major financial institutions, across Banking, Finance and Debt Capital Markets.

Our practice covers all aspects of banking, finance, debt capital markets and restructuring, including bank recapitalisations, bank lending and acquisition finance, asset finance, leveraged finance, real estate finance, structured finance and securitisations, derivatives and all related financial instruments, financial services regulation, restructuring and insolvency, debt and corporate restructurings, and all recovery matters.

Our firm has played an important role in the recapitalisation of Greek banks. We have advised key investors in Greek banks on their investment participation and have provided assistance with all regulatory requirements, including filing applications with Greek regulatory authorities such as the Hellenic Capital Market Commission and the Bank of Greece. Our firm has long-standing experience in assisting investors of Greek financial institutions with all ongoing regulatory and tax requirements, and has also advised funds in connection with their divestment of equity and other securities of Greek financial institutions.

Further, we have advised foreign investors at all stages of the acquisition process of equities of Greek banks and in the sale of assets by Greek banks. Our work has entailed full due diligence of the relevant targets and their assets, and assisting in the drafting and negotiation of all sale and purchase documents and regulatory approvals. Our due diligence has encompassed, inter alia, real estate assets owned by financial institutions, loan portfolios, licences, due diligence of subsidiaries and of core and non-core assets, management agreements, key contracts, constitutional documents and the full regulatory regime applicable to the targets.

We regularly advise clients on all types of financing transactions, including commercial loans, revolving credit facilities, syndicated loans, secured and unsecured financings, real estate financings, asset-based loans, construction and development loans and letters of credit. Our expertise also encompasses the restructuring of bond and loan facilities and all forms of debt such as notes and bonds, debt-for-equity swaps and all types of restructurings, the enforcement of securities and/or complex restructurings of securities, and foreclosures.

We also assist clients on distressed debt trading and on the acquisition, disposal, financing and restructuring of all types of non-performing loans (NPLs), including corporate, commercial, residential and consumer loans. Our work includes advising potential buyers on the legal framework of non-performing loans and the structuring of potential NPL sales. We have substantial experience in conducting due diligence, structuring NPL sale and purchase transactions and preparing all relevant documentation. Our expertise extends to enforcing collaterals pertaining to NPLs.

We regularly represent debtors, creditors and financial institutions in high-profile corporate and debt restructurings, including restructurings under the conciliation procedure, out-of-court corporate and debt restructurings, bankruptcy and insolvency proceedings, and all pre-bankruptcy stages and procedures. We advise both creditors and debtors in conciliation and pre-bankruptcy procedures. Our advice spans filing relevant petitions, drafting pleadings, representing clients before court hearings, assisting in drawing up reorganisation plans and supporting filings in connection with obtaining a moratorium. We have represented some of the largest banks as creditors in such proceedings, and have also assisted debtors throughout the full reorganisation process.

The firm has further authored a significant authority on the bankruptcy laws, constituting a leading source on the forms of bankruptcy and restructuring.

We have unparalleled expertise in debt capital markets transactions and advise on the full spectrum of debt instruments. We act on the full range of debt capital markets products in connection with both public and private issuances — from simple to highly structured products, bond issuances, securitisations, derivatives and structured products. We serve as counsel to bond issuers, bond buyers and underwriters, guiding them throughout the bond issuance process. Our work includes drafting resolutions, offering documents, loan agreements, bond purchase agreements and disclosure agreements.

We act for both issuers and bondholders on bond issuance transactions. Our work scope involves:

• drafting and negotiating the terms of bond programmes, focusing in particular on the representations and covenants given by issuers, as well as events triggering defaults
• drafting and negotiating bond subscription agreements and advising issuers and original bond subscribers on the terms and implications of such agreements
• drafting and negotiating bondholder agency agreements and security agreements, and proceeding with the perfection and registration of security
• drafting and reviewing the conditions precedent to bond subscriptions and managing the bond issuance process to achieve timely completion; and
• advising in connection with the restructuring of all types of bonds and bond programme agreements