Karatzas & Partners advised Black Sea Trade & Development Bank (BSTDB) on the granting of an up to €90.5m loan to Energean Oil and Gas S.A. guaranteed by the Hellenic Republic up to 90% of the outstanding principal of the loan, so as to accelerate the development of Energean’s development of the Epsilon and Prinos fields and the structural expenditures in the Prinos infrastructure complex.
The transaction has been approved by the European Commission under the State Aid temporary framework, aiming to support Energean Oil and Gas S.A. in the context of the coronavirus outbreak.