RT Journal Article
SR Electronic
T1 The Athens Ringroad
JF The Journal of Structured Finance
FD Institutional Investor Journals
SP 67
OP 72
DO 10.3905/jsf.2000.320214
VO 6
IS 2
A1 Maria Leistner
A1 Bruce Johnston
YR 2000
UL https://pm-research.com/content/6/2/67.abstract
AB On March 6, 2000, the finance documents and project contracts for the Athens Ringroad were signed after almost three years of complex negotiations among the Greek State, the concession company, a bank syndicate, and the European Investment Bank. Among the hurdles were the need to separate financing for different road sections, to develop a mechanism of releasing bank guarantees, and to structure risk-allocation and inter-creditor relationships among the project participants. There was little precedent for such a project financing in Greece despite recent, significant state-sponsored infrastructure development.