CMS advises Bank of Cyprus on post-completion matters following sale of its Ukrainian subsidiary

CMS Ukraine has advised the Bank of Cyprus on various post-completion Ukrainian law matters following the sale of the Ukrainian subsidiary of Bank of Cyprus and associated debt to Alfa Group in 2014.  

CMS supported the Bank of Cyprus with the restructuring, as well as other changes to the loan portfolio, covered by the sale transaction. The firm also supported with the implementation of the amended terms of the sale transaction, including the establishment and release of associated security. 

CMS also advised the client on the refinancing by EBRD of a €68 million facility for the construction of the largest shopping, exhibition and office centres in Odessa (Riviera Property Complex), owned by Ukrainian asset holding company Novi Biznes Poglyady.

The CMS team included partners Tetyana Dovgan (Corporate/M&A) and Ihor Olekhov (Finance), supported by Kateryna Chechulina (Counsel, Finance) and Diana Pysarenko (Lawyer, Corporate/M&A).