MeritKapital Limited heads sale of Bank of Cyprus deposits

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CySec investment firm MeritKapital Limited have brokered a sale of a high value Bank of Cyprus (BoC) deposit which was affected by the bail in provisions implemented in light of the Cypriot Financial Crisis.

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CySec investment firm MeritKapital Limited have brokered a sale of a high value Bank of Cyprus (BoC) deposit which was affected by the bail in provisions implemented in light of the Cypriot Financial Crisis. The distressed deposit, belonging to an entity unrelated to Meritkapital Limited, has been purchased by a large US based investor for a competitive purchase price.

The sale is believed to be the first on the island and it demonstrates that a distinct market now exists for this type of distressed BoC deposit. With many buyers wishing to invest in these distressed deposits, an alternative solution now exists for many large deposit holders who are in need of liquidity or who wish to diversify their holdings.

The nature and mechanics of the transfer was previously an issue with this type of asset sale which caused practical difficulties, however MeritKapital Limited have an innovative solution which allows for the transaction to be structured and secured. For further information, please contact info(at)meritkapital(dot)com

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Persella Ioannides
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