The National Bank of Greece and Eurobank act as the Main Lead Facilitators, arranging and coordinating financing of up to €750 million, of which €600 million for the partial financing of the acquisition of at least 67% of the shares of Terna Energy by Masdar.

The maximum loan amount can reach, subject to conditions, €1.125 billion. To ensure a smooth implementation of the acquisition, the Main Lead Arrangers, National Bank and Eurobank, committed the above total financing in equal proportions (50:50) in advance, using a club-deal format. All Greek systemic banks participated in the final financing scheme to complete the financial closing of the acquisition. Upon receipt of the required approvals from the competent authorities and fulfilment of other conditions, the Greek banks disbursed the total amount of €600 million to cover the acquisition costs upon completion of the transaction on November 28, 2024.

In addition, the National Bank of Greece coordinated the contractual financing documents and took on the administrative responsibilities of bond trustee/bondholders' representative, trustee/creditors' representative, and account bank. Meanwhile, Eurobank served as advisor to the proposer and manager of the subsequent public offering, and Eurobank Equities provided the necessary brokerage services.

The acquisition, worth €3.2 billion in terms of enterprise value, is the largest ever acquisition of an energy company on the Athens Exchange and is among the largest transactions in the EU Renewable Energy Sources (RES) sector.

The financing represents a strong "proof of confidence" in the structuring and underwriting capabilities of complex transactions by the local banking sector, led by the Structured Financing Divisions of National Bank and Eurobank.

The entry of a RES champion of the size of Masdar of the United Arab Emirates sends an emphatic signal about the attractiveness of the Greek economy and, in particular, the positive prospects of the country's RES sector, while it is expected to contribute substantially to the implementation of the National Energy and Climate Plan (NECP). It is also expected to be a foundation for additional investments in the European energy sector, upgrading Greece's role as a regional hub.