Pacific Investment Management Company LLC reached an agreement to acquire Helix 3 portfolio of Non Performing Loans from Bank of Cyprus Holdings Public Limited Company (CSE:BOCH) for approximately ?390 million on November 15, 2021. The transaction is subject to a number of conditions, including customary regulatory and other approvals and is expected to completed in the first half of 2022. The Transaction is expected to have a total positive impact of 66 bps1 on the Bank of Cyprus CET 1 ratio and approximately ?21 million on the Bank of Cyprus income statement. The impact of the Transaction on the Bank of Cyprus income statement for 3Q 2021 is a net profit of approximately ?10 million and a positive impact of 7 bps1 on the Bank of Cyprus CET 1 ratio. Morgan Stanley & Co. International plc and Interpath Advisory acted as financial advisor and Allen & Overy LLP and Chryssafinis & Polyviou LLC acted as legal advisor to Bank of Cyprus.