BUSINESS

Piraeus Bank, NBG underwrite loan to extend Athens airport concession

TAGS: Transport, Banking, Business

Greece’s two largest lenders Piraeus Bank and National Bank said on Thursday they will be the exclusive joint underwriters for a bond loan facility to Athens International Airport (AIA) of up to 665.6 million euros ($742 million).

Proceeds of the loan facility will partly finance a 20-year extension to manage and operate the airport until 2046.

Greece concluded the extension of a concession to operate AIA in February. The deal was part of its privatisation agenda under a post-bailout agreement between Athens and its international lenders.

Based on the deal, AIA’s operator will pay 1.115 billion euros to Greece’s privatisation agency, the Hellenic Republic Asset Development Fund.

[Reuters]

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