27 Dec 2021

Successful refinancing and expansion financing of Olympia Odos

Olympia Odos, Greece’s third largest toll road network, has successfully completed a refinancing of its existing loans and secured a financing for the 74,5km motorway extension to be constructed between Patras and Pyrgos. The total amount of the transaction is 822 million euros.

Mandated Lead Arrangers are Alpha Bank, Eurobank and Piraeus Bank. The European Investment Bank has also shown strong support by staying as a lender to the Project.

Panayiotis Papanikolas, CEO of Olympia Odos stated that: “The successfully completed financing shows both the resilience of Olympia Odos despite the Covid-19 challenges and the support and commitment of our stakeholders to the development of this important road network.”

Rothschild & Co, Linklaters LLP and Bernitsas Law Firm have acted as financial and legal advisors to Olympia Odos, respectively.



Olympia Odos is the concessionaire of Elefsina-Korinthos-Patra-Pyrgos-Tsakona, one of the most important highways in Greece connecting the Peloponnese, Western Greece and Epirus with Athens. The project achieved financial close in 2008 and subsequently underwent a comprehensive restructuring in 2011-2013. The construction was completed in 2017. Olympia Odos is owned by an international consortium comprising Vinci Concessions, Hochtief, Aktor Concessions, Avax and GEK Terna.