LONDON — Bracewell (UK) LLP represented Eldorado Gold Corporation’s wholly owned subsidiary, Hellas Gold Single Member, S.A., in a €680 million project financing facility for the development of the Skouries Project in Northern Greece. The facility includes a commercial loan, funding from the Greek Recovery and Resilience Facility (RFF) and a commercial bridge loan that is expected to be replaced by an additional RRF loan in 2023. National Bank of Greece S.A. and Piraeus Bank S.A. served as lead arrangers.
The €680 million financing is the largest such financing in Greece.
Skouries is located within the Halkidiki Peninsula of Northern Greece. It is a gold-copper porphyry deposit to be mined using a combination of conventional open pit and underground mining techniques.
Bracewell lawyers involved in the transaction include:
Partners: Ro Lazarovitch, Tom Swarbrick and Oliver Irwin
Senior Counsel: Bagyasree Nambron
Senior Associates: Mark Kahn and Jessica Hastings