June 2020 - Page 8 of 12 - NPL Confidential

Finance Minister in teleconference with banks, loan servicers on bankruptcy code

11 June 2020 Konstantinos Papagrigoris

Banks and loan servicers expressed their concerns in a meeting with Finance Minister Christos Staikouras yesterday that the country’s new…

Eurogroup will discuss the suspension of 3.5% DP target

11 June 2020 Editors

Today’s video conference of EU finance Ministers will discuss Greece’s sixth enhanced surveillance report, which enables close monitoring of the…

Νational Bank-Bain Capital deal under SSM microscope

11 June 2020 Editors

The European Central Bank’s supervisory authorities, the SSM (Single Supervision Mechanism) have put National Bank’s sale of 1.6 billion euros of bad debt to Bain Capital under the microscope. The financing of the 337 million euro deal is perhaps the most critical parameter.

Icon Project purchased by Bain Capital on the way to being managed by FPS

10 June 2020 Konstantinos Papagrigoris

The management of a 1.6 billion euros business loan portfolio Bain Capital acquired from the National Bank of Greece (NBG) is expected to go to FPS. Bain Capital’s equity ties with the Italian group doValue, which recently acquired FPS from Eurobank, do not leave much room for the portfolio to be claimed by any other servicer.

Blackstone puts 1,500 plots of land in Spain for sale until 2021

10 June 2020 Editors

Aliseda Inmobiliaria, the loan servicer company controlled by Santander and Blackstone, has launched a new campaign to sell some of…

Reuters: ECB prepares ‘bad bank’ plan for wave of coronavirus toxic debt

10 June 2020 Editors

ESM will stand as guarantor for the bad bank. Then, the bad bank would then issue bonds which commercial banks would buy in exchange for portfolios of unpaid loans,

Greece issues EUR3bn 10-year bond priced to yield 1.57%

10 June 2020 Editors

Greece issued a new 10-year bond priced to yield 1.57%, adding up EUR3bn in state coffers. Given EUR5bn new issuance…

ECB report shows areas for improvement in banks’ lending standards before the COVID-19 crisis

10 June 2020 Editors

The European Central Bank (ECB) has today published a report on banks’ credit underwriting standards, which highlights some weaknesses in the…

Government and creditors battle it out over bankruptcy code, first home loan subsidy

10 June 2020 Konstantinos Papagrigoris

Debtors who go bankrupt will not be left homeless. In this context, the government is proposing the establishment of a public body that will acquire the first homes of debtors who go bankrupt and rent the property back to them, allowing them to continue living in the home for a fee..

Eurobank leads the pack in Greece on battle with bad debts

9 June 2020 Editors

Eurobank is leading the way in Greece in the battle with bad debts after having completed a deal with Italian…