Fraport Greece announces consortium loan agreement of nearly one bln€
Fraport Greece on Monday announced that it has concluded a loan agreement worth nearly one billion euros in order to finance its looming assumption of 14 regional airports around Greece.
The consortium loan will include funding from Athens-based Alpha Bank (284.7 million euros), the the Black Sea Trade & Development Bank (62.5 million), the EBRD (186.7 million), the EIB (280.4 million) and the World Bank’s IFC (154.1 billion euros).
According to a Fraport Greece press release, 280.4 million euros will be utilized for infrastructure, with the remaining portion going towards covering the upfront concession payment to the Greek state.
The German-Greek consortium also announced a share capital increase of 650 million euros. The total price tag for the privatization, which is one of the largest ever in Greece, is 1.234 billion euros.
Fraport Greece CEO Alexander Zinell praised the signing of the loan agreement, saying it is a distinct sign of confidence for the Greek economy.
You may be interested
Giannis Antetokounmpo never forgets his rootsmakis - Feb 19, 2018
In an interview with ESPN, Giannis Antetokounmpo, known as the “Greek Freak” due to freakish athletic abilities and his prowess…
FYROM PM: Name dispute with Greece to be resolved by Julymakis - Feb 19, 2018
The Prime Minister of FYROM, Zoran Zaev effectively announced that his country will have reached an agreement on the name…
Bloomberg: Greece will not receive € 5.7bln tranche at EuroGroup todaymakis - Feb 19, 2018
Greece is not expected to receive the Eurogroup approval today for the € 5.7 billion disbursements, as there are still…