the insider’s guide

Alpha Bank chooses Davidson Kempner as preferred bidder for Galaxy

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.

Why Davidson Kempner prevailed in battle with Pimco over Galaxy

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.

Green light for Hercules II with firepower of 24 billion euros

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.

Banks and loan servicers clash over repricing demands

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.

QUIZ: What loan was behind the Fortress deal going wrong

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

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

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.

Eurobank expects EUR1.2bn 2021 NPE inflows

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

Thousands of real estate auctions freeze until the year -end

More than  2,100 real estate auctions scheduled by the end of the year are freezing after Government's decision. In September and October 7,300 auctions took place.

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

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.

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

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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