Fraport Greece on Monday announced that it has concluded a loan agreement worth nearly one billion euros in order to finance its looming assumption of 14 regional airports around Greece.
The consortium loan will include funding from Athens-based Alpha Bank (284.7 million euros), the the Black Sea Trade & Development Bank (62.5 million), the EBRD (186.7 million), the EIB (280.4 million) and the World Bank's IFC (154.1 billion euros).
According to a Fraport Greece press release, 280.4 million euros will be utilized for infrastructure, with the remaining portion going towards covering the upfront concession payment to the Greek state.
The German-Greek consortium also announced a share capital increase of 650 million euros. The total price tag for the privatization, which is one of the largest ever in Greece, is 1.234 billion euros.
Fraport Greece CEO Alexander Zinell praised the signing of the loan agreement, saying it is a distinct sign of confidence for the Greek economy.
