January 2021 - Page 6 of 7 - NPL Confidential

FCA report identifies 4000 financial services firms at risk of failure

8 January 2021 Editors

The Financial Conduct Authority (FCA) has warned that up to 4,000 financial services companies were at a ‘heightened risk’ of…

Marathon Distressed Credit Fund attracted $2.5 billion

8 January 2021 Editors

Marathon Asset Management, a worldwide credit investment manager, announced the final close for its Marathon Distressed Credit Fund, which was…

News

Intralot is heading to restructure 750 mill. Euros of bonds

8 January 2021 Editors

Intralot has started discussions with creditors over 750 million euros debt restructure through a bond – equity swap.

Bank of Greece issues license to 26th loan servicer; Strong interest for 2021-2022 securitisations

8 January 2021 Konstantinos Papagrigoris

The new company is “Silverton Loan and Credit Claims Management Company “with the total number of loan servicers operating in Greece now at 26.

Greece paid EUR13m instalment-subsidies in December

8 January 2021 Editors

So far 160.000 borrowers in total have filed an application for the scheme. The latter has a EUR655m total budget and is supposed to act as a bridge for Covid-affected mortgage borrowers between current loan moratoria and the return to a normal payment pattern.

PwC: €150 billion of NPL portfolios expected to trade the next 2 years across Europe

7 January 2021 Editors

Over the last 10 years, PwC data shows that NPLs with a face value of around €700bn have traded as portfolio transactions.

Non-binding offers for Piraeus Bank POS arm expected by end Jan

7 January 2021 Konstantinos Papagrigoris

The management of Piraeus Bank has set an end January deadline for non-binding offers to be submitted on the sale of its card transaction settlement (POS) branch.

Loans under moratoria reached €20,753bn end Nov.

5 January 2021 Editors

Loans subject to suspended principal and interest repayments reached 20,753 billion euros at the end of November according to Bank of Greece data.

Ιrish bad bank transfers €1bn profit to Government

5 January 2021 Editors

Bad banks (Asset Management Companies), under certain conditions, can be profitable for Public Finance. The Irissh Nama announced early this week that it plans to hand over an additional €1 billion of surplus cash to the Government this year, as it expects to report a 10th consecutive annual profit for 2020.

Nomura, Goldman Sachs and JP Morgan to open offices in Athens

5 January 2021 Konstantinos Papagrigoris

Talks between Alex Patelis, the Prime Minister’s main economic adviser, and the heads of three foreign investment banks in September appear to be bearing fruit, as part of a push by Greece to convince them to open branches in Athens after Brexit.