ΣΥΜΒΑΣΗ ΟΜΟΛΟΓΙΑΚΟΥ ΔΑΝΕΙΟΥ ΚΑΙ ΡΗΤΡΕΣ ΑΝΑΛΗΨΗΣ ΠΑΡΕΠΟΜΕΝΩΝ ΥΠΟΧΡΕΩΣΕΩΝ (COVENANTS)

Bond loan agreements and covenants Dr. Kimon Saitakis Attorney at Law, PhD, Post-Doc Researcher (Law School of Athens) ISBN 978-960-654-545-0 Abstract: Corporate financing through bond loans has been constantly gaining ground in Greek capital markets over the last decades. Aiming to formulate an attrac- tive legal framework for the financing of Greek companies, Law 4548/2018 set new rules for bond loans, repealing the provisions of Laws 2190/1920 and 3156/2003. However,neithertheabove lawsnoranyother legislationcontainsspecificprovisions on the content of the agreement concluded between the persons subscribing to the bond loan and its issuer.The purpose of the study is to examine this very relationship established by the bond loan agreement and the function of the terms contained in this agreement to strengthen the position of the bondholder.The study is structured into two interrelated sections: The first part is devoted to the bond loan agreement and itscharacteristics,whilethesecondpartexaminestheroleand legalconsequenc- es of covenants as contractual mechanisms of prudential security and strengthening thepositionofthebondholder inthebond loanagreement.Specifictopicsaremainly developed from the perspective of contract law. Issues of company law connected with the issuance of a bond loan are beyond the scope of this monograph.The book issupplementedbyanappendix,containingmodelclausesofbond loanagreements, classified by category, so that they can be used by practitioners as a“toolbox”. COPYRIGHT All rights reserved. No part of this publicationmay be reproduced, stored in a retriev- al system, or transmitted, in any form or by any means, without the prior permis- sion of NOMIKI BIBLIOTHIKI S.A., or as expressly permitted by law or under the terms agreed with the appropriate reprographic rights organization. Enquiries concerning reproduction which may not be covered by the above should be addressed to NO- MIKI BIBLIOTHIKI S.A. at the address below. DISCLAIMER The content of this work is intended for information purposes only and should not be treated as legal advice.The publication is necessarily of a general nature; NOMIKI BIBLIOTHIKI, the author and the contributors make no claim as to the comprehen- siveness or accuracy of the information provided; Information is not offered for the purpose of providing individualized legal advice. Professional advice should there- fore be sought before any action is undertaken based on this publication. Use of this work does not create an attorney-client or any other relationship between the user and NOMIKI BIBLIOTHIKI, or the author, or the rest of contributors. 23 Mavromichali str. | 106 80 | Athens | Greece T +30 210 3678 800 | F +30 210 3678 819 www.nb.org | info@nb.org © 2021, NOMIKI BIBLIOTHIKI S.A. LawPublishers inEurope Also available at: www. qualex .gr