AKL advised Alpha Bank S.A., in its capacity as lender (acting through its Luxembourg branch), mandated lead arranger, facility agent and hedging counterparty and Alpha Bank Cyprus Ltd as accounts bank and security agent, in connection with an up to €82 million term loan facility by The Cyprus Tourism Development Company Limited being a market leader in the hospitality sector in Cyprus and the owner of the luxury hospitality resort identified as “The Landmark Nicosia”. The purpose of the bond loan was the refinancing of the existing banking indebtedness of The Cyprus Tourism Development Company Limited and the funding of the construction costs of the project of comprehensive renovation of the “The Landmark Nicosia” hotel with an in-depth refurbishment and of the development of two adjacent (office and residential) towers in Nicosia, Cyprus.
