Bernitsas Law advised CrediaBank in connection with the financing of the reconstruction, development and refurbishment of a luxury hotel resort developed by Hinitsa Bay Holdings in Porto Heli, Argolida.
The Project was recently licensed as an Integrated Tourist Accommodation and Hinitsa Bay Holdings has already entered into hotel agreements for the operation of the Hotel by Four Seasons.
The project financing was structured as a common secured bond loan facility issued by Hinitsa Bay Holdings and co-financed under the Recovery and Resilience Fund (RRF). The overall financing also included a bridge financing of RRF eligible investment costs in the form of a current account credit facility with Hinitsa Bay Holdings and a second secured bond loan for the refinancing of existing indebtedness of Hinitsa Bay Holdings.
Partner Athanasia Tsene, Senior Associate Sildia Fotopoulou and Trainee Attorney Aiantas Serfas advised on the financing of the transaction and Partners Yannis Seiradakis and Lambros Belessis, Counsel Christina Zakopoulou and Associate Katerina Fotopoulou advised on project and real estate aspects.