Koutalidis Law Firm has advised GMR Airports Limited, an Indian multinational airport operator, on the issuance by the Greek subsidiary of the group, i.e. GMR AIRPORTS GREECE SINGLE MEMBER S.A. (“GMR Greece”), of a common secured bond loan of up to €60,500,000 subscribed for by National Bank of Greece S.A.
The financing is provided in the context of the concession agreement for the New Kastelli (Heraklion) International Airport (the “Concession Agreement”) which achieved financial closing.
The New Kastelli International Airport shall be the second largest airport in Greece after the Athens International Airport, it will create 7,000 jobs and marks the first major Indian investment in Greece.
Our advice in the financing part of the transaction follows our advice to GMR Airports Limited throughout the tender process of the Concession Agreement, while we continue to advise GMR Airports Limited on an ongoing basis regarding the New Kastelli International Airport.
