Bernitsas Law acted as Greek law counsel to National Bank of Greece SA as arranger, coordinator, bondholder agent, bondholder and hedge bank, Eurobank SA as arranger and hedge bank, Eurobank Cyprus Ltd as arranger and bondholder, Eurobank Private Bank Luxembourg SA as bondholder and CBRE Loan Services Limited as paying agent, in connection with a syndicated bond loan facility governed by Greek law for the refinancing of the existing capital structure of a Cypriot NPE portfolio acquisition transaction, with 97.3% of the underlying portfolio consisting of assets relating to the Helix 1 portfolio acquired in 2019 and 2.7% of assets acquired as part of the Tide Y portfolio in 2022. The bond loan facility is secured by security interests under Greek, Cypriot, Luxembourg and English Law.
National Bank of Greece SA and Eurobank SA are two of Greece's systemic banks with an international presence.
Partner Athanasia Tsene advised on this transaction assisted by Associates Angeliki Chlivinou and Afroditi Kazani. Associate Sildia Fotopoulou advised CBRE as paying agent of the transaction.