the insider’s guide

Bain Capital launches an asset management company to manage NPLs

Bain Capital Credit set up Natissa a new asset management company to manage NPLs. The new company has a capital of 500K euros fully paid up and its business involves the management of alternative investment funds.

Davidson Kemper Capital Management buys in Greece,  but sells in Itay.

Τhe US fund bought Cepal in Greece but puts Prelios for sale. One of the main groups active in Italy and Europe in alternative asset management and specialist real estate services, with over 40 billion in managed assets.

Is the synthetic securitization model costly for Piraeus Bank?”

The bank, that is, transfers only the credit risk and not the portfolio and pays for the protection that buys an annual risk premium of 20 million euros.

CVC offers 175 million euros for Vivartia

With a unanimous decision, the MIG Board of Directors reportedly signed a Stock Purchase Agreement (SPA) with the fund CVC on Vivartia for 175 million euros. The buyer will also take on all Vivartia loans, amounting to 425 million euros.

A.Enria: Greek banks must accelerate the clean up of their ballance sheets

Asset management companies (bad banks)  are tools that are able to free banks’ balance sheets from bad loans and enable them to support households, small businesses, and corporates. The mutualization of losses among Eu member states can be averted.

Management of overdue Alpha Bank loans go to Cepal Dec. 1

Alpha Bank in the context of the implementation of its Strategic Plan, announced the completion of the carve out process of the Bank’s NPE management activity to Cepal Hellas providing management services for loan and credit receivables. .

IMF: Hercules is a major success towards reducing NPLs in Greece

Hercules securitizations are a partial solution because they will only help reduce the existing stock of NPEs by close to 50%. The government should asse Bank of Greece proposal for the creation of a bad bank on a comprehensive cost-benefit analysis including potential fiscal costs.

Project Frontier request for Hercules seen in coming weeks; non-binding offers expected Q1

National Bank of Greece management will submit a request to participate in the Hercules program in the coming weeks and will accept non-binding offers in the first quarter of 2021.

Interest from Viva Wallet, Euronet and Nexi for Piraeus Bank POS branch

Piraeus Bank's goal is to attract a price that will exceed 250 million euros, contributing to the group's pre-forecast profits an amount of 20 million euros.

Ministry of Finance disbursed 9,9 million euros from GEFYRA project

Ministry of Finance disbursed the first tranche of the mortgage loan subsidy program known as "GEFYRA".

• Management of overdue Alpha Bank loans go to Cepal Dec. 1

• Alpha Bank’s new NPEs at 1 bln euros

• Government dusts off bad bank proposal

• Santander and Blackstone put a large hotel debt portfolio up for sale

• Motor Oil close to agreement with Piraeus Bank

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

• Alpha Bank and the villa of Lakis Gavalas in Mykonos go under the hammer

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