International law firm Ashurst has advised Bank of Cyprus on the financial restructuring of one of the country's largest real estate and building developers.
International law firm Ashurst has advised Bank of Cyprus on the financial restructuring of the €400 mln of indebtedness of Leptos Group, one of the country's largest 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.
The Ashurst team advising on the restructuring consisted of restructuring partner Olga Galazoula and banking senior associate Callum McPherson, supported by restructuring senior associate Julia Abouaf, banking associates Kathryn Marle, James Riseam and Danielle Kelly. Corporate senior associate Nicola Burke and associate William Slaiding provided advice on the corporate aspects.
Cypriot law advice was provided by Tassos Papadopoulos & Associates and Greek law advice was provided by Zepos & Yannopoulos.
