Financed ProjectsRegional Greek Airport

Identification Code:

OP/15/0025

Total Operation Cost:

1.617.041.003

Maturity:

213 months

Operation Status:

Description and Purpose of the Operation:

Long term debt financing of acquisition (via 40 year, with an option for an additional 10 years, concession agreement) and modernization of 14 regional airports in Greece by Fraport and Copelouzos in the amount of EUR 67 million

Countries of Operation:

Greece (100,00 %)

Financial Product:

Loans

Sector:

Industrials

Domain:

Public

Borrower/Client:

Senior debt financing to the consortium comprising Fraport AG Frankfurt Fraport Regional Airports of Greece A Societe Anonyme (Greece) and Fraport Regional Airports of Greece Societe Anonyme B (Greece) companies established by the Concessionaire for respective airports clusters A and B

Co-Financiers/Participants:

Members of the Mandated Lead Arrangers Group, including the EIB, the EBRD, the IFC and Alpha Bank of Greece.

Guarantors/Sponsors:

Fraport AG Frankfurt Airport Services Worldwide and Slentel Ltd, a member of the Copelouzos Group.

Developmental and Regional Cooperation Impact:

Contribution to job creation in Greece, which is paramount for the economy with current unemployment rate over 25% of total national workforce. The new jobs will be created not only in the construction sector, but in airport services; not only for Imminent Works and Future Works, but also in commercial real estate activities. BSTDB involvement in regional airports financing will have demonstrated continuing access of private sector in Greece to international debt and equity capital markets. Additional benefits to consumers air travelers Facilitate further construction and development of tourist infrastructure, including the islands of Greece Contribution to funding the landmark privatization deal in Greece.

Environmental Classification and Impact (summary):

The environmental and social (E&S) risks and impacts associated with acquisition of existing airports are generally limited, unlikely to be significant, and can be efficiently mitigated by applying existing good practices for airports management.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org