We are pleased to have advised Lamda Development S.A., on its successful €500m public offering and listing of retail bonds on the Athens Exchange.
The offering was oversubscribed 1.54x and interest rate was set at the low end of the range at 3.8%. Trading of the bonds is expected to commence on 19 November.
The net proceeds from the issuance will be used for residential development at the emblematic Ellinikon project.
This financing marks another step in Lamda Development’s mission to deliver world-class urban development projects and sustainable value creation in Greece. The issuance drew strong investor demand, reflecting confidence in Lamda’s strategy and long-term vision.
Papapolitis & Papapolitis acted as legal counsel to Lamda Development, advising comprehensively on all legal aspects of the issuance, the negotiation of the bonds’ terms and conditions and on the offering materials.
The P&P team was led by Partner Nikolas Katsaros and Senior Associate Maria Roxane Karydi.
We would like to thank the participating institutions for their role in this successful transaction, Eurobank S.A. and Piraeus Bank S.A. as Issuance Advisors and Lead Coordinators, Alpha Bank S.A. and National Bank of Greece S.A. as Lead Coordinators, and CrediaBank and Optima Bank S.A. as Lead Underwriters.