Bernitsas acted as Greek law counsel to Piraeus Bank as senior loan noteholder and senior facility agent and Alpha Bank as acceding senior loan noteholder in connection with the accession by Alpha Bank to the private securitization of car lease receivables originated by Avis Budget Greece in June 2025 and the resulting amendment and restatement of the securitization transaction documents.
Alpha Bank's €100m participation in the asset backed securitization increased the senior loan facilities to c.€300m.
Both Piraeus Bank and Alpha Bank are systemic Greek credit institutions and leading banks in the Greek market by loan and deposit market share and network presence.
Avis Budget Greece is the leading car mobility company in Greece and the national master franchise of Avis Budget Group.
Partner Athanasia Tsene assisted by Senior Associate Sildia Fotopoulou advised on this transaction.