Kelemenis & Co. acts for China Development Bank in a €94-million project finance facility in Greece
Kelemenis & Co. has been retained to act for China Development Bank (CDB) in a €94-million project finance facility in the Greek energy sector. In its capacity as the Greek legal counsel to the transaction, the firm has been instructed to deal, amongst other things, with legal due diligence matters of all Greek companies involved in the transaction, with the deal structure and with all finance and security agreements relating to the Greek end of the credit facility. CDB is one of the major financial institutions in the People’s Republic of China (PRC). It is state-owned, falling under the direct jurisdiction of the State Council, and as one of three policy banks of the PRC, it is primarily responsible for raising funding for large infrastructure projects. It is the second-biggest bond issuer in China after the Ministry of Finance. At the end of 2010, the bank had US$687.8 billion in loans, more than twice as much as the World Bank.