Alantra advises Alpha Bank on the disposal of a c.€0.2bn non-performing loan portfolio
SECTORFIG
Value €0.2 billion
Greece – Alantra has acted as financial advisor to Alpha Bank on the disposal of a portfolio of primarily secured non-performing loans with a total gross book value of approximately €0.2bn to Tritos Financial Investor Designated Activity Company, an entity established by funds managed by affiliates of Fortress Investment Group.
Alpha Bank is one of Greece’s leading banking groups, providing banking and financial services to individuals, professionals and businesses in Greece and internationally. The transaction forms part of the bank’s strategy for the active management of its Non-Performing Exposures and has a neutral impact on its capital position.
The portfolio will be serviced by Cepal Hellas (“Cepal”), a licensed credit servicer supervised by the Bank of Greece.
Alantra advised Alpha Bank throughout Project Athena, supporting the preparation, structuring and execution of the transaction through closing. The team’s detailed understanding of the portfolio, its underlying data and the transaction structure enabled it to address the complexities arising throughout the process and support an efficient execution.
Michael O’Sullivan, Managing Director at Alantra, said: “Project Athena demonstrates Alantra’s ability to combine deep knowledge of the Greek banking market with specialist expertise in loan portfolio transactions. Our detailed understanding of the portfolio and its underlying characteristics enabled us to navigate the complexities of the process efficiently, supporting Alpha Bank in achieving a strong pricing outcome and successfully executing and closing the transaction.”
This transaction further reinforces Alantra’s track record advising financial institutions on NPL and NPE portfolio transactions and balance sheet optimization initiatives. Recent relevant mandates include advising Banco Santander México on the sale of a $423mn (MXN 7.3bn) SME NPL portfolio, UNICRE on the divestment of its €150mn non-performing consumer finance portfolio, BBVA Portugal on the sale of a secured NPL and REO portfolio, and AMCO on the sale of a €600mn Italian re-performing mortgage loan portfolio.
