Practice Areas

Banking & Finance

Banking & Finance

Patrikios Legal banking and finance team is one of the most experienced specialist team in Cyprus, consistently top-ranked in all major legal directories. We are not only involved in challenging and complex finance transactions but we are versatile in acting on deals of all sizes and complexity, both in Cyprus and abroad.

We advise on a full range of banking and finance matters, including acquisition finance, project and structured finance, real estate finance, asset finance, ship and aircraft finance and have extensive experience in general corporate lending and debt financing. Our team also has special expertise in financial services regulation.

Our clients include both lenders and borrowers, from major national and international banks to industrial organizations, multinationals, financial institutions and other companies in the financial services sector, as well as non-bank lenders and individual borrowers.

The recovery section of our Firm’s banking practice regularly handles inquiries from various local and international banks on complicated recovery cases.

The Banking & Finance department provides effective and professional legal advice and guidance to clients including:

  • Corporate finance
  • Project and structured finance
  • Acquisition finance
  • Equity and debt finance
  • General corporate lending
  • Ship and aircraft finance
  • Restructurings and reorganisations
  • Repurchase agreements [REPOs]
  • Derivative and securities lending transactions
  • General banking
  • Recovery of loans
  • Lease and hire-purchase agreements
  • Letters of credit and bank guarantees
  • Offerings and listings in international stock exchanges

Sample of Major Cases Handled

Structuring Multi-Billion Dollar Facility Agreements for Global Fertilizer Produce

Advising an International bank in relation to several facility agreements provided to one of the top 10 nitrogen fertilizer producers in the world. We were instructed to advise on three facility agreements amounting to USD 850 million, USD 7 billion and EUR 450 million, for purchasing purposes, refinancing of loans and repayment of debts respectively.

Navigating Security Amendments in Major Banking Transaction

Advising a major International bank in relation to an amendment agreement to a EUR 260 million facility agreement and to certain security amendment agreements, pursuant to which certain pledges provided in the first phase of the transaction are being partially released.

Overhauling Oilfield Service Group's Facility Agreements Across Regions

We were asked to advise on the global restructuring, carried out by a major International bank on existing facility agreements with various companies of a large international oilfield service group with operations in the Central and Southern Asia, and Middle East, whereby the existing multiple facility agreements with 6 borrowers (Cyprus, Austria, Netherlands and Jersey) will be replaced with two new master facility agreements governed by English law (value USD 1.53 billion).

Managing Intricate Issues in Cross-Border Margin Loan Transaction

Advised the corporate and investment banking division of an American financial and banking corporation in relation to a USD 150 million margin loan transaction, which involved intra group loans of over USD 200 million, subordination issues, South African share security, security assignment and other security agreements.

Facilitating Aircraft Financing Novation for International Lease Provider

A major London based law firm involved us in an aviation financing matter in order to provide our assistance regarding the novation of a USD 50 million aircraft financing transaction involving two aircrafts of an international leading provider of aircraft leasing services. The case involved Cypriot, Greek, Cayman and French entities.

Securing Financing for Luxury Yacht Acquisition with Swiss Bank

We have been involved in the financing of a 75-metre motor yacht, amounting USD 50 million, made available by a large Swiss Bank. We provided advice to the group and the Cyprus borrower, as well as other group companies providing collateral in the form of share pledges, ship mortgage, general assignments, and reviewed other BVI documents from a Cyprus law perspective.

Continued Expertise: Cyprus Industry Opinion on REPO and Securities Lending

We have been instructed by the International Capital Market Association (ICMA) and the International Securities Lending Association (ISLA) to provide the Cyprus Industry Opinion on REPO and Securities Lending agreements for the 10th consecutive year (2008-2017). The Opinion is available to all professional members of the ICMA and ISLA.

Strategic Repurchase Transaction with Precious Metal Mining Company

Advised the London branch of a multinational banking and financial services corporation in relation to a repurchase transaction with a Cyprus company, involving securities in a precious metal mining company, which are listed on the London Stock Exchange. Its importance lies on the prestigious client, the complexity of the matters involved and the transaction’s value (USD 25 million).

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