12 04 2016

Bank of Cyprus on the €400 million restructuring of Leptos Group

Ashurst advised Bank of Cyprus in relation to the financial restructuring of the c. €400 million indebtedness of Leptos Group, one of Cyprus' biggest real estate and building developers.


The key elements of the agreement included the restructuring of the terms of the group's loans, including through a debt hive-up, and a comprehensive restructuring of the collateral package, accompanied by a corporate reorganisation. Ashurst advised Bank of Cyprus on the transaction with a team led by restructuring partner Olga Galazoula (picture) and banking senior associate Callum McPherson, assisted by restructuring senior associate Julia Abouaf, banking associates Kathryn Marle, James Riseam and Danielle Kelly. Senior associate Nicola Burke and associate William Slaiding provided advice on the corporate aspects. Cypriot law advice was provided by Tassos Papadopoulos & Associates LLC and Greek law advice was provided by Zepos & Yannopoulos with a team composed by Athina Skolarikou (corporate restructuring) and Sonia Melegou (real estate). Involved fees earner: Olga Galazoula - Ashurst; Julia Abouaf - Ashurst; Callum McPherson - Ashurst; Kathryn Marle - Ashurst; James Riseam - Ashurst; Danielle Kelly - Ashurst; Nicola Burke - Ashurst; William Slaiding - Ashurst; Athina Skolarikou - Zepos & Yannopoulos; Sonia Melegou - Zepos & Yannopoulos;

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