WFW advises Piraeus Bank on loan portfolio acquisition from HSBC
This transaction resulted from HSBC’s decision to sell its Greek shipping portfolio, of which Piraeus Bank acquired the highest number of loans.
This transaction resulted from HSBC’s decision to sell its Greek shipping portfolio, of which Piraeus Bank acquired the highest number of loans.
Located in Foggia in the southern region of Apulia, the 13 MW plant produces electric and thermal energy from biomass.
The vessel is expected to be the best-performing cruise ship in the world.
WFW has been advising the sellers for several years on project development, land rights acquisition and corporate matters.
The acquisition was completed through Nemeca’s takeover of an existing loan between BCC Iccrea Bank and the two Greek companies.
Through this acquisition, Pangaea will expand its North American terminal network to include the mid-Atlantic and south-eastern US.
The loan facility comprises a K-Sure insured tranche and a commercial tranche relating to each of the two vessels.
Tim has over 20 years’ experience working on a wide range of aviation and travel-related dispute resolution matters both in the English courts and in arbitrations.
Terres d’Energie Développement is a platform dedicated to the development of solar and wind projects in France.
The project and financing agreements were signed on 21 April 2023.