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Home2020

Year: 2020

Why Davidson Kempner prevailed in battle with Pimco over Galaxy
Featured

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.

Goody’s-Everest go to CVC Capital for 165 mln euros
News

Goody’s-Everest go to CVC Capital for 165 mln euros

23 November 2020 Editors

The announcement of the CVC Capital-MIG deal is days away, finalizing the transfer of the country’s largest food group to the American fund.

Alpha Bank chooses Davidson Kempner as preferred bidder for Galaxy
News

Alpha Bank chooses Davidson Kempner as preferred bidder for Galaxy

22 November 2020 Editors

Alpha Bank has selected U.S. investment fund Davidson Kempner as its preferred bidder to buy a 10.8 billion euros  portfolio of non-performing loans, and Cepal.

Banks and loan servicers clash over repricing demands
News

Banks and loan servicers clash over repricing demands

20 November 2020 Konstantinos Papagrigoris

Banks are rejecting a push by funds and loans servicers to reprice deals involving the sale bad debts. Loan packages acquired before the coronavirus crisis erupted they become loss-making.

Eurobank expects EUR1.2bn 2021 NPE inflows
News

Eurobank expects EUR1.2bn 2021 NPE inflows

20 November 2020 Editors

When current loan moratoria (EUR4.9bn in Greece) are set to expire (except tourism-related ones extended till end-21). Eurobank expects a…

Piraeus Bank  to decide on EUR7bn NPE securitizations on Dec.10th
News

Piraeus Bank to decide on EUR7bn NPE securitizations on Dec.10th

20 November 2020 Editors

Piraeus Bank called an Extraordinary General Meeting for shareholders to facilitate the two planned NPE securitizations EUR2bn mortgage-only Phoenix and EUR5bn mixed-portfolio Vega.

DoValue: New loan servicing deal with Bain Capital in Cyprus for 0.7 bln euros
News

DoValue: New loan servicing deal with Bain Capital in Cyprus for 0.7 bln euros

19 November 2020 Christos Ziotis

doValue, announced an agreement with Bain Capital for the exclusive management of a portfolio of non-performing loans originated in Cyprus…

QUIZ: What loan was behind the Fortress deal going wrong
Highlights

QUIZ: What loan was behind the Fortress deal going wrong

19 November 2020 Editors

Why Piraeus bank refrained form an NPL sales deal with Fortress.

Green light for Hercules II with firepower of 24 billion euros
News

Green light for Hercules II with firepower of 24 billion euros

19 November 2020 Konstantinos Papagrigoris

The Finance Ministry has decided to immediately proceed with the strengthening of the  APS  Hercules program with an additional 12 billion euros in guarantees to support the domestic credit system.

E.C warns Greek banks of  a cliff effect  after loan moratoria
Editorial

E.C warns Greek banks of a cliff effect after loan moratoria

18 November 2020 Christos Ziotis

Banks have to prepare for a possible cliff effect when debt payment moratoria expire, according to 8h Enhanced surveillance report for the Greek economy.

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  • Over half a billion in debts were restructured by the Servicers in July
  • Eurobank: Renames Solar to Sun and seeks investors
  • Banks: 100 million additional provisions
  • Out-of-court mechanism: Record 82.1% of applications approved – €4.26 billion in debts have been “written off”
  • The Bank of Greece’s decisions on servicers
  • UBS: $300 million settlement for Credit Suisse mortgage loans
  • UNIKO: The 13 million euro platform
  • Banks: Reduction of Pillar 2 Guidance to 1%
  • The banks passed the stress tests comfortably
  • The banks’ “red” map
Alpha Bank attica bank auctions Bank of Greece Banks Cepal doValue Eurobank extrajudicial mechanism HERCULES Intrum Loans National Bank NPEs npl NPLs Piraeus Bank Qualco Real Estate servicers
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