the insider’s guide

After Galaxy, Davidson Kempner hits Frontier project hard

Davidson Kempner is determined to put together a strong bid for the acquisition of the Frontier project from National Bank (NBG), sending a strong message to the domestic NPL market that it is determined to play a leading role.

Piraeus Bank sells property for 17.1 mln euros

Piraeus Bank proceeded with the sale of a property located in central Athens, at the junction of Michalakopoulou and Rapsanis streets, through an auction conducted by consultant Piraeus Real Estate.

Borrowers briefed on end of loan moratoria

The call centers of loan management companies have been busy in the last few days informing borrowers that the loan moratoria, suspension of payments, has ended and that installments will resume on a monthly basis.

National Bank: upfront loss from Frontier securitization seen below EUR450m

According to preliminary information disseminated to interested parties,   the nominal value of the mezzanine tranche in NBG’s upcoming Frontier securitization of EUR6.1bn NPEs allegedly stands at EUR450m.

Fitch: NPL could decline after moratoria with securitizations.

In its latest report, Fitch underlines that the banking sector remains a weakness for the sovereign credit profile.

Bank of Greece expects a 8-10 bn euros rise of NPLs

The reduction of these loans, according to the BoG, is the most serious challenge of the banking system after the gradual lifting of the loan moratorium and other existing measures to protect borrowers.

Alpha Bank said to completing Galaxy

lpha Bank and Davidson Kempner (already selected as preferred bidder) are close to completing exclusive talks to seal an agreement in relation to the twin transaction of the EUR10.8bn NPEs securitization and servicer Cepal.

QQuant increases share capital by 4.3 mln euros

The share capital increase of QQuant Master Servicer has been completed, an amount reaching 4.3 million euros, in a decision made at the general shareholders meeting.

Piraeus Bank’s first synthetic securitization expected by end March

The synthetic securitization under the code name Hermes is set to be completed by the end of March. The target of Megalou is to reduce the bank's NPLs to single digits in 2022 through total securitizations of at least 16 billion euros.

Fitch: NPL could decline after moratoria with securitizations.

In its latest report, Fitch underlines that the banking sector remains a weakness for the sovereign credit profile.

• Dimand, Ten Brinke and Prodea in battle for Ektasis properties

• Catering sector: losses reach 90%

• UK home repossessions may tenfold in 2022

• EU finance ministers, are preparing an action plan to tackle NPLs

• HIG reaches deal with Piraeaus Bank, National Bank on Halyvourgiki loans

• National Bank: upfront loss from Frontier securitization seen below EUR450m

• Official sector creditors push for home auctions to resume

Ethos Media S.A. - Lysikratous 64, 17674 Kallithea, Athens, Greece
nplconfidential.com - nplconfidential@ethosmedia.eu

We sent out this message to all existing customers.
If you want more information about our privacy policy, please visit terms page.

If you no longer wish to receive these emails, simply click on the following link Unsubscribe.

©2020 Ethos Media S.A. All rights reserved