Prokopis is the head of our Banking & Finance practice, which itself is one of Athens’s leaders in advising domestic and international clients in all aspects of financing in Greece. He is well-known and widely respected within the Greek financial sector as a technical expert and a pragmatic solution-driven adviser. He has been listed by Chambers and Partners for Banking-Finance for many years.
Prokopis has played a leading role in many major acquisition finance transactions as well as advising on complicated secured transactions, securitizations, structured finance, credit facilities, revolving loans, derivatives, project finance, issuance of subordinated debt, high-yield and other forms of bonds and debt restructuring. The firm has carved out a reputation for strength in NPLs and Prokopis has been central to this drive, advising clients on both the buy and sell side. He has also played a key role in the firm’s activity in renewable energy, including wind and photovoltaic parks.
He has also advised both corporates and credit institutions on matters relating to debt and finance, such as issuance of convertible bonds, MIFID and capital adequacy requirements.
Notable Banking & Finance cases
- Lenders Counsel to EBRD for the €30m financing of CVC acquisition of a major Hospital in the Athens metropolitan area.
- Lender’s counsel to EBRD for a loan note to a Greek corporate.
- Advising on the participation of EBRD in the largest equity raising by a Greek company this year the €700m increase of capital by Lamda Development for the construction of the Hellinikon Project.
- Advising EBRD in the financing of Papoutsanis S.A. a leading cosmetics maker in Greece.
- Advising EBRD on its equity participation in the newly established Energy Exchange that will be the new regulator of a new capital markets organization consisting of ADMIE, LAGIE, Athens Stock Exchange (ATHEX) and the Cyprus Stock Exchange that will be established for the first time in Greece for the trading of energy.
Lenders’ Counsel Infrastructure
- Advising the consortium of lenders (NBG, Piraeus and Alpha) providing acquisition finance to Avi Alliance (a subsidiary of Canadian fund PSP), which is participating to the public tender for the acquisition of a 30% stake at Athens International Airport for a financing that would exceed €1 billion.
- Lenders’ counsel on the bidding by Terna and Egis for Egnatia Odos S.A. a major toll road in the North of Greece tendered by the HRADF as part of the privatization program of the Greek State estimated at a value of €700m.
- Lenders’ counsel to National Bank of Greece for the refinancing of a wind-farm project.
- Lenders’ counsel to National Bank of Greece to advise on the acquisition of a 12MW photovoltaic park in Greece.
- Lenders’ counsel to National Bank of Greece for the refinancing of a Quest Pylos Energy S.A.
- Advising on the National Bank of Greece Business Seeds program for investing in start-ups, a key part of its activities to support the Greek economy.
- Advising the four major Systemic Greek banks (NBG, Piraeus, Eurobank and Alpha) in all aspects of the issue of a syndicated bond loan amounting to €35m for Terna Magnesite.
- Advising on a €130m syndicated corporate bond loan to GEK Terna led by Piraeus Bank as mandated lead arranger.
Lenders’ Counsel Corporate / Real Estate / High Yield
- Lenders’ counsel to Alpha Bank on the first REO transaction to take place in Greece selling a group of real estate assets to Brooklane Capital for over €90m.
- Advising Alpha Bank for the sale of three major real estate assets against the purchase price of approximately €37m through a share sale-and-purchase transaction sold to Brooklane Capital. This transaction included a large cinema complex in the Athens Metro area.
- Advising Alpha Bank in financing Hines for the development of Academy Gardens a greenfield project in the Athens Metro Area.
- Retained by Alpha Bank to advise on the refinancing of a major construction company.
- Advising Hines on the acquisition of several hotels in Crete through two major shares sale and purchase transactions valued in total at the amount of approximately €150m.
- Advising Energean Oil and Gas on a major capital market transaction for the issuance of a High Yield Bond with Citigroup Global Markets for €250m.
Non-Performing Loans (NPLs)
- Advising Piraeus Bank on the sale of multiple NPL portfolios totaling approximately €700m.
- Advised Piraeus Bank on the sale of €300m of NPLs using the Greek NPL law.
- Advising Davidson Kempner European Partners in acquiring a €800m portfolio of non-performing loans secured on marine and real estate assets originated by Piraeus Bank for €300m under the securitization and NPL Greek law.
- Advised Lone Star funds in the bid for Project Jupiter a secured NPL SME portfolio tendered By Alpha Bank of a value over €1 billion.
- Advising Lone Star, a leading US fund, on the potential acquisition of a €1.6 billion NPL portfolio tendered by Piraeus Bank.
- Advising Lone Star, a leading US fund, on the potential acquisition of an NPL portfolio tendered by Alpha Bank. A deal with asset value over €1 billion.
- Advising Lone Star, a leading US fund, on the potential acquisition of an NPL portfolio tendered by Piraeus Bank. A deal with asset value over €1billion.
- Advised Hoist Finance, PwC and Qualco in the formation of a JV and the winning bid on the Single Liquidation Project tendered by the Bank of Greece for the servicing of a €9 billion portfolio of NPLs stemming from 16 bad banks, creating the first NPL platform in Greece.
- Advised Hoist Finance in an effort to acquire two portfolios of NPLs with total value of €2 billion tendered by Eurobank.
- Advising Hoist Finance in the bid process for the acquisition of an NPL portfolio at €1.3 billion tendered by Alpha Bank.
- Retained by King Street, a global hedge fund to work on a multimillion-euro transaction involving the acquisition of an NPL portfolio.
Acquisition Finance – Asset Finance
- Advising a consortium of Glencore and Carlyle in the public tender for the privatization of Hellenic Petroleum, as well as its acquisition financing.
- Advising Mohegan Gaming & Entertainment in its participation to the public tender for the concession of a Casino License and the financing of the Hellinikon Integrated Resort Casino. Project tendered out by the Hellenic Ministry of Finance and the Hellenic Gaming Commission. This project is estimated at over €1 billion.
- Advising Hines is its financing of the acquisition and development of a new business complex in Athens.
- Advised Hines on €100m bank financing for the acquisition of five hotels in Crete.
- Advised Coller Capital a leading secondary market fund on the acquisition of a majority stake on a listed in the ATHEX REIC for €200m.
Regulatory & Bankruptcy / Insolvency
- Advising Credit Suisse on the potential impacts of Brexit on the way cross-border financial services are offered.
- Advising Deutsche Bank in the taking of security over listed shares in the Athens Stock Exchange.
- Advising PQH single liquidation platform on regulatory and compliance matters.
- Advising PQH on the drafting and execution of SLAs with technological providers and the operation of the single technology platform and the portfolio on-boarding and migration to the STP.
- Advising PQH, the single liquidation project run by PWC, Qualco and Hoist Finance, on regulatory matters of banking regulation, specifically focused on NPLs.
- Retained by Hoist Finance to advice on the issuance of an NPL servicing license by the Bank of Greece under Law 4354/2015.
- Our team advised the executive management of a systemic Bank on an ongoing investigation by the SSM (single supervisory mechanism) of the ECB supervision function.
- Retained by Swiss Fund and the bondholders to file for bankruptcy proceedings against Follie Follie Group a listed entity with global operations with financing difficulties defaulting on its debt obligations against creditors for over €500m.
- Advised Credit Suisse on regulatory issues faced by the Bank due to Brexit and how the bank should continue providing its services in Greece post Brexit.