AKL has advised Alpha Bank as the lender, mandated lead arranger, facility agent, and hedging counterparty and Alpha Bank Cyprus as the accounts bank and security agent on an up to EUR 82 million term loan facility for the Cyprus Tourism Development Company.
The Cyprus Tourism Development Company is a Cyprus-based hospitality company and the owner of the Landmark Nicosia hospitality resort.
According to AKL, “the purpose of the bond loan was the refinancing of the existing banking indebtedness of the Cyprus Tourism Development Company and the funding of the construction costs of the project of a comprehensive renovation of the Landmark Nicosia hotel with an in-depth refurbishment and of the development of two adjacent (office and residential) towers in Nicosia, Cyprus.”
AKL did not reply to our inquiry on the matter.
