Milbank Advises Athens International Airport S.A. in Connection with Its c.€1.1B Bond Loan Financing

Milbank LLP advised Athens International Airport S.A. (“AIA”) as issuer of over €1.1 billion bond loans made available to it for the management and operation of Athens International Airport. National Bank of Greece S.A., Piraeus Bank S.A., Alpha Bank S.A. and Eurobank S.A. acted as, amongst other roles, underwriters and mandated lead arrangers. The transaction is expected to close by the end of August 2022.

AIA, the operator of the largest and busiest airport in Greece, will use the bond loan proceeds as part of a new financing strategy aimed at enhancing value as the world reopens from the restrictions imposed as a result of the COVID-19 pandemic.

The Milbank team was led by Global Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis and a London Project, Energy and Infrastructure team made up of partner John Dewar, associates Vicky May and Jacob Panagi and trainee James Aurelius in a coordinated cross-office transaction team comprising Frankfurt-based Global Leveraged Finance partner Mathias Eisen and associates Thomas Moeller and Lara Milione, with further support being provided by London Alternative Investments partner James Warbey, associate Adrian Kwok and Legal Assistant Anna Rylik.

Latham & Watkins, Karatzas & Partners and Koutalidis Law Firm also advised on the transaction.