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Landmark disposal completed

Category: NPLs Regulation

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Project Helix sets optimistic tone for Cypriot NPLs

Bank of Cyprus has agreed to sell a landmark €2.7bn (GBV) real estate portfolio to Apollo dubbed Project Helix. The large size of the deal demonstrates the Cypriot market’s ability to attract large private equity funds and is expected to spur further non-performing loan transactions.

The portfolio will be transferred to a licensed Cypriot Credit Acquiring Company (CyCAC) of Bank of Cyprus.

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