the insider’s guide

Pimco looks to boost presence in Greek NPE market

Pimco, one of the world's largest fund managers, is considering the acquisition of an additional 40 percent stake in Qualco.

National Bank about to close Icon deal with Bain Capital after changes

The two sides are close to an agreement after having completed several changes to the initial terms and price of the deal. The US fund is pushing for a 30 percent cut in the initial price, while offering to add earn-out terms to the deal.

The EU Commission raises concerns on the new insolvency code

European Commission has raised some concerns over the issue of primary residence protection, as it is described in the new insolvency law.

Intrum doubles its bond issuance programme to 5.5 billion euros

Intrum, Europe’s biggest debt collector announced that it decided to increase its aggregate nominal amount on the existing MTN framework which enables the company to issue bonds in the Swedish market.

Deloitte has asked Dromeus Capital for a 20% discount on rent

The real estate sector has been under pressure, due to the coronavirus pandemic.  Requests to owners to gradually lower rents have increased, for both retail stores and offices, as businesses are getting ready to tackle the consequences of the recession.

Countries hit harder by the pandemic my fall behind further for a long time

Countries could fall behind both in the shorter and longer-term due to lower growth potential, according to Rolf Strauch,  Chief Economist and Management Board Member  at the ESM.

Em.Grimaldi is targeting two over-debt shipping companies

A representative of Emanuele Grimaldi in Greece had contacts with a Greek systemic bank that has a large exposure in two shipping companies.

George Zavvos: We address new reforms in the capital markets

Hercules has been the boldest reform of the new government addressing in a systemic move the NPL problem, without using taxpayer money and relying on investors.

Eurobank CEO on NPEs, Bad Bank and fresh capital needs

Eurobank’s  CEO Fokion Karavias estimated that Greek NPEs will increase due to the pandemic but the problem will be lower compared to the 10-year crisis and manageable.

New platform for home protection set for July 1

Greece's Finance Ministry is in advanced negotiations with institutional creditors on the new legal framework protecting mortgage holders hit by the coronavirus pandemic from losing their home due to unpaid debt. As of July 1, a special platform will operate to receive applications from interested parties.

• Stouranaras: Economy will shrink by 6% this year under the base line scenario

• Securitised loans to euro area households amounted to €754  billion at Q1 2020

• Foreclosures have been postponed until September.

• Greek banks’ ECB funding increase will mitigate their profitability pressure

• Bain asks for an additional 30% discount to the upfront price of ICON

• EU Commission gives a warning on Greek banks

• Stournaras insists: A bad bank is a necessity, ESM lending is not the end of the world…

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