2021 - Page 69 of 71 - NPL Confidential

US fund HIG Capital acquires 90 mln euros of Hellenic Halyvourgia loans

13 January 2021 Konstantinos Papagrigoris

The fund will be able to implement the plan it has prepared for the development of significant activity in the logistics sector. The plan envisages the construction and operation of modern logistics facilities from the acquisition of the area in Aspropyrgos.

Fin min officials meet to prepare Hercules II plan for Q2

13 January 2021 Konstantinos Papagrigoris

Greece’s Prime Minister K. Mitsotakis has instructed the Finance Ministry to proceed quickly with Hercules II in order to facilitate securitization programs being launched by Greek banks with the backing of state guarantees.

Piraeus Bank in talks with Intrum for Vega EUR5bn NPE securitisation

12 January 2021 Editors

Piraeus, as expected, has been involved in direct talks with Intrum over the planned Vega securitization (a mixed EUR5bn portfolio).

doValue employees in Greece receive 1.5 mln euro bonus in first year

12 January 2021 Konstantinos Papagrigoris

In a year when the start of Covid-19 and the loan moratorium virtually wiped out the revenues of loan management companies, doValue rewarded its employees by paying them bonus of 1.5 million euros.

Lawyers threaten protest action if Katseli law deadlines are not extended

12 January 2021 Editors

Greece’s lawyers are asking for an extension to update applications submitted under the Katseli law, threatening to otherwise abstain from duties.

HSBC Pantelakis: The bad bank will cost more capital to banks than ‘HERCULES”

11 January 2021 Editors

The solution of a bad bank will cost Greek lenders more capital to reduce their NPEs, than the Hercules Asset Protection Scheme according to an HSBC Pantelakis report.

Piraeus Bank’s push to offload problem loans progresses rapidly

11 January 2021 Editors

The new business plan, which will provide for a more aggressive reduction of sour debt, will be presented in detail at the end of the first quarter of 2021.

Banks, loan servicers send letter of complaint to govt over auction freeze

11 January 2021 Konstantinos Papagrigoris

The total suspension of all enforcement operations “poses a serious risk to the recovery schedules of problem loans, including those that have been securitized by state guarantees through the Hercules plan.”