Dracopoulos & Vassalakis LP acted as Greek legal counsel to NBG in the first Greek SME securitisation non-retained transaction since 2007, SINEPIA D.A.C, completed in August 2016.
NBG raised up to €300 million of medium-term funding by placing the senior notes with EIB, EIF and EBRD. The transaction primarily aimed to enhance the access of Greek SMEs & Mid-caps to affordable financing and falls within NBG’s strategic initiatives to support the Greek SMEs & Mid-caps with the support of the European Fund for Strategic Investments (EFSI) and EBRD. Additionally, it serves NBG’s strategic objectives of diversification of funding sources, access to medium-term funding, reduction of funding costs and subsequent reduction of ELA dependence.
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