November 2020 - Page 2 of 7 - NPL Confidential

Santander and Blackstone put a large hotel debt portfolio up for sale

25 November 2020 Editors

Santander and Blackstone will sell the first large hotel debt portfolio t amid the Covid crisis. The portfolio is constituted seven tourist…

Is the synthetic securitization model costly for Piraeus Bank?”

25 November 2020 Konstantinos Papagrigoris

The bank, that is, transfers only the credit risk and not the portfolio and pays for the protection that buys an annual risk premium of 20 million euros.

Bain Capital launches an asset management company to manage NPLs

25 November 2020 Editors

Bain Capital Credit set up Natissa a new asset management company to manage NPLs.

The new company has a capital of 500K euros fully paid up and its business involves the management of alternative investment funds.

Piraeus Bank’s business plan for a more aggressive reduction of NPEs

24 November 2020 Konstantinos Papagrigoris

The bank will implement in 2021 a more aggressive plan to reduce non-performing loans as it will proceed with a new reduction of NPEs, through securitizations, amounting to 5-6 billion euros in addition to the two securitizations totaling 7 billion euros (2 billion euro package Phoenix and the 5 billion euro Vega package) which are being launched and will be completed in the first months of 2021.

Piraues bank will conclude Phoenix and Vega securitizations early 2001

24 November 2020 Editors

Piraeus is committed to concluding securitizations Phoenix (EUR2bn mortgages) and Vega (EUR5bn mixed) by early-2021,

Why Davidson Kempner prevailed in battle with Pimco over Galaxy

23 November 2020 Konstantinos Papagrigoris

The dominance of US fund Davidson Kempner in the tender for the acquisition of the Galaxy securitization of Alpha Bank amounting to 10.8 billion euros surprised banks and debt managers. as well as loan management company Cepal, for a total price of 290 million euros.