IFLR1000

Apollo Global Management €1.2 billion acquisition of Bank of Cyprus NPL portfolio

28/8/2018
Non-Performing Loan (NPL) portfolio sale
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€ 2.8 billion

$ 3.121 billion

Completed

28/8/2018

Overview:

  • US private equity firm Apollo Global Management has acquired Bank of Cyprus loan portfolio for €1.2 billion.
  • The portfolio has a gross book value of €2.8 billion. 
  • The acquisition was financed by a syndicated of lenders.

Rajeeb Gurung - Researcher

Jurisdiction:

Cyprus

Deal type:

Non-Performing Loan (NPL) portfolio sale

Practice area:

Banking

Governing laws:

England and Wales
Cyprus

Industry sector:

Banking

Firms:
Allen & Overy

Party: Bank of Cyprus (Seller)

Antis Triantafyllides & Sons

Party: Syndicate of lenders (Lender)

Lawyer: Stelios Triantafyllides

Ashurst

Party: Bank of Cyprus (Seller)

Chryssafinis & Polyviou

Party: Bank of Cyprus (Seller)

Herbert Smith Freehills

Party: Syndicate of lenders (Lender)

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