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Saplegal advises Eurobank S.A. and Deutsche Bank AG on €675 m. securitisation (Project Rhea)

We have acted as Greek legal counsel to Eurobank S.A. and Deutsche Bank AG in connection with Public Power Corporation S.A.’s (PPC) €675 million trade receivables securitisation transaction (Project Rhea). The transaction involved the securitisation of receivables arising from low- and medium-voltage electricity supply contracts, as well as natural gas supply contracts. The issuer, PPC Rhea DAC, issued Senior Notes to Deutsche Bank AG and Eurobank S.A., with Qualco Intelligent Finance S.A. acting as Sub-Servicer and Citibank N.A., London Branch, acting as Note Trustee and Security Trustee.