- Bernitsas Law advised Santander UK on amending a $27 million facilities agreement, ensuring compliance with Greek legal standards.
- The amendment strengthens security provisions and supports financial restructuring for a multinational telecommunications group.
- Santander UK played multiple key roles in the transaction, including Agent, Arranger, and Security Agent.
- Bernitsas Law’s legal team, led by Partner Athanasia Tsene, provided strategic legal counsel.
- The transaction aligns with a broader trend of financial restructuring in the telecommunications sector, enabling companies to adapt to regulatory and market shifts.
Transaction Overview
Strategic Financial Restructuring
The facilities agreement includes a comprehensive security package that spans multiple countries, with key security interests covering shares in various group companies, including those based in Greece. By restructuring the existing terms, the amendment aims to optimize financial operations, enhance liquidity, and ensure long-term stability for the borrowing group.
Santander UK, one of the UK’s leading retail and commercial banks and a subsidiary of Banco Santander, played a pivotal role in the transaction. The bank acted in several key capacities, including as Agent, Arranger, Original Hedge Counterparty, Security Agent, and Original Lender, reinforcing its commitment to providing tailored financial solutions in the corporate sector.
Bernitsas Law’s Role in the Transaction
Bernitsas Law, a prominent Greek law firm known for its expertise in banking and finance, corporate law, and cross-border transactions, provided legal support in ensuring the deal complied with Greek financial regulations. The firm played a crucial role in reviewing the security arrangements and advising on the necessary legal adjustments required to align the amended agreement with Greek law.
The legal team was led by Partner Athanasia Tsene, who provided strategic guidance on the transaction, supported by Associate Odysseas Fokas, who assisted in the legal structuring and documentation. Their combined expertise helped ensure the seamless execution of the agreement, safeguarding the interests of all involved parties.
Impact on the Telecommunications Sector
This transaction reflects a broader trend of financial restructuring within the telecommunications industry, as companies seek to adapt to evolving market conditions, rising infrastructure costs, and regulatory challenges. By securing additional financial flexibility, the borrower is better positioned to expand its operations and invest in next-generation technology solutions.
With this successful amendment, Santander UK continues to demonstrate its expertise in complex financial arrangements, while Bernitsas Law solidifies its reputation as a trusted legal advisor in high-profile international transactions.
FAQs
- What was the purpose of the facilities agreement amendment?
- The amendment aimed to strengthen security provisions, enhance liquidity, and ensure compliance with regulatory requirements across multiple jurisdictions.
- Who were the key parties involved in the transaction?
- Bernitsas Law acted as Greek legal counsel, advising Santander UK, which played multiple roles including Agent, Arranger, and Security Agent.
- How does this amendment impact the telecommunications sector?
- The transaction aligns with ongoing financial restructuring efforts in the industry, helping companies adapt to market and regulatory changes while securing financial stability.
- What role did Bernitsas Law play in the deal?
- Bernitsas Law ensured the agreement complied with Greek legal standards, reviewed security arrangements, and provided strategic legal counsel.
- Who led the legal team from Bernitsas Law?
- Partner Athanasia Tsene led the team, supported by Associate Odysseas Fokas.
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