Reaching a final agreement with a consortium consisting of subsidiaries of the investment companies Bain Capital Credit and Fortress Investment Group as well as doValue Greece for the sale of 95% bonds of medium (Mezzanine) and low (Junior) repayment priority in the context of securitization of non-foreign exchange portfolio of a total book value ~ € 6bn, was announced by the National Bank.
The NBG will hold 100% of the senior repayment priority bonds, for the guarantee of which a request for has been submitted by the Greek State pursuant to the provisions of Law 4649/2019 on the Guarantee Program for securitization of credit institutions ” Iraklis “, as well as 5% of the bonds of medium (Mezzanine) and low (Junior) repayment priority. The transaction is carried out in the context of the Bank’s strategy for the management of non-performing exposures and is in line with the objectives, as they have been submitted to the Single Supervisory Mechanism.
Proceeds
The total income for the NBG, which mainly reflects the value of the Senior bonds and the price for the Mezzanine and Junior bonds, amounts to ~ 50% of the total book value of the portfolio. The transaction will strengthen the Bank’s total capital by ~ 150 basis points, with the capital adequacy ratio increasing to 18.5% (pro-forma) in the first half of the year while at the same time the non-performing exposures ratio amounts to 12.7%.
The transaction is expected to be completed within the fourth quarter of the year, subject to the required approvals. After the completion of the transaction, the management company doValue Greece, which has received a license and is supervised by the Bank of Greece under Law 4354/2015 and has many years of experience in managing non-performing loans, will take over the management of the portfolio.
On behalf of the EIB, Morgan Stanley & Co. International plc acts as financial advisor and organizer of the transaction, Oliver Wyman as financial and technical advisor while the law firms Clifford Chance LLP and Karatzas & Associates as assistant legal advisors in English and Greek law respectively.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Eurostat: Women and Youth Most Underpaid in Greece
In the EU 18.2% of women are low-paid compared to men, against 23% in Greece. A staggering 43% of young Greeks are low-paid—the second-worst rate in Europe.
Public Services in Greece to Go Under Review with New Rating Tool
Public services will receive their evaluation scores and feedback directly, fostering a system of accountability and continuous improvement.
Istanbul Earthquake – Greek Prof. Concerned Major Quake Yet to Strike
Responding to concerns over whether a potential major quake in Istanbul could affect Greece, Papazachos was reassuring: “The fault extends as far as Lemnos and the Northern Sporades, but it doesn’t rupture all at once. An earthquake in Istanbul doesn’t have the capacity to directly affect Greek territory.”
Greece 4th Most Popular Summer Destination for Europeans
Southern Europe remains the top choice for Europeans at 41%, though down 8% from last year, likely due to rising temperatures and climate concerns.
Easter Sales Performance and the Source of €4–5 Million in Losses
Easter retail sales were relatively weak this year, with the only "real winners" being the livestock farmers who had lambs to sell.
Hotel Foreclosures Continue to Plague Greece’s Islands
A surge in hotel foreclosures across Greece’s islands threatens small tourism businesses, despite booming visitor numbers and record-breaking travel in 2024.
Athens Launches Task Force to Safeguard Historic City Center
The new municipal unit will ensure compliance to zoning laws, curb noise, and address tourist rental issues starting from the Plaka district.
WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year
IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock
First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region
![Accor: Η βιωσιμότητα «κλειδί» για την ανάπτυξη και ανθεκτικότητα του ελληνικού τουρισμού [έρευνα]](https://www.ot.gr/wp-content/uploads/2025/04/thumbnail-90x90.jpg)
![Οι αλλαγές που υπάρχουν στα φορολογικά έντυπα για τα εισοδήματα του φορολογικού έτους 2024 από ακίνητα [Γ’ Μέρος]](https://www.ot.gr/wp-content/uploads/2025/03/akinita-600x400.jpeg)
