NBG & European Bank for Reconstruction and development act as exclusive joint underwriters of an up to EUR 300M financing to NBG Pangea R.E.I.C.
National Bank of Greece S.A. (“NBG”) and the European Bank for Reconstruction and Development (“EBRD” and together with NBG, the “Banks”) are pleased to announce the successful completion of the structuring, co-arrangement and signing for an up to EUR 300 m. bond loan facility (the “Facility”) to NBG PANGAEA R.E.I.C. (the “Company”), exclusively underwritten in full by the Banks. The Facility’s respective underwriting amounts are € 250 m. for NBG and € 50 m. for EBRD.
The Facility proceeds was used to refinance outstanding debt of the Company amounting to € 237.5m., whilst the remaining amount will be used to finance part of the Company’s investment plan. The transaction was successfully completed within a tight timeline, addressing certain structural complexities intrinsic to deals of this nature, as well as the commercial requirements of the parties.
NBG and EBRD are joining forces to support the Greek real estate sector, through the financing of NBG Pangaea REIC, the country’s leading real estate investment company. The Company’s portfolio consists of more than 350 commercial properties, mainly office and retail buildings across Greece and other key markets of South-Eastern Europe, most of which at prime location.
The Facility supports the Company’s portfolio expansion and sustainable business development targets, promoting in parallel its strategic focus on sustainable growth. Gradually more buildings in Greece will meet latest standards of sustainability and eco-friendliness, as the Company will deploy 50% of the EBRD Facility part for green investments in properties such as energy and resource efficiency, insulation and state-of-the-art technology to lessen their environmental footprint. Such properties are expected to achieve at least LEED “Gold” or BREEAM “Very Good” certifications, whilst the Company will also introduce GRESB reporting, the Global Real Estate Sustainability Benchmark, which aims to enhance value by assessing and supporting sustainability practices.
Alpha Bank named “Most Active Issuing Bank in 2018 in Greece” by the European Bank for Reconstruction and Development
Alpha Bank was named “Most Active Issuing Bank in 2018 in Greece”, by the European Bank for Reconstruction and Development (EBRD).This important award, which Alpha Bank has received from the EBRD for the second consecutive year, highlights the Bank’s particularly successful participation in the EBRD’s “Trade Facilitation Programme” and recognises its contribution both in making Greek businesses more extrovert as well as in the overall economic growth.Through this particular Programme, Alpha Bank, from 2016 to this day, has helped hundreds of Greek businesses reinforce their exports and either start or expand theirinternational commercial activities in all the countries where the EBRD is present. Specifically, the “Trade Facilitation Programme”, through guarantees provided by theEBRD, further improves the credit rating of the Bank’s International Trade products and their acceptance by international banking institutions. Hence, Alpha Bank provides innovative and effective solutions to Greek businesses that represent almost all sectors of the economy, enabling them, among other things, to participate in international competitions as well as make international trade transactions with an extended network of clients and suppliers abroad.On behalf of Alpha Bank, the Manager of the Wholesale Banking Lending Division Georgia Farmaki, the Manager of the Trading Division Ekaterini Marmara and theManager of the Financial Products Division Athanassios Pavlidis received the award, at the “2019 EBRD Annual Meeting & Business Forum” that recently took place inSarajevo.