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Greek banks NBG, Alpha, Piraeus, Eurobank sign 500 mln eur loan with DESFA

Credit: REUTERS/Alkis Konstantinidis

Greece's four largest banks said on Thursday they signed a 505 million euro ($787 million) syndicated loan with gas grid operator DESFA to finance its investment plan, aiming to make Greece an energy hub for the region.

ATHENS, Oct 7 (Reuters) - Greece's four largest banks said on Thursday they signed a 505 million euro ($787 million) syndicated loan with gas grid operator DESFA to finance its investment plan, aiming to make Greece an energy hub for the region.

National Bank NBGr.AT, Eurobank EURBr.AT, Alpha Bank ACBr.AT and Piraeus Bank BOPr.AT signed the loan facility and will share the role of mandated lead arranger, they said in a joint statement.

The 12-year loan will finance DESFA's 10-year development plan which includes more than 48 projects totaling 540 million euros to upgrade infrastructure and ensure diversified supply sourcing.

(Reporting by George Georgiopoulos; editing by Jason Neely)

((george.georgiopoulos@thomsonreuters.com; +30210 337 6437; Reuters Messaging: george.georgiopoulos.thomsonreuters.com@reuters.net))

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