Value €1.2 billion
Alantra CPAI has advised National Bank of Greece (NBG) on the sale of a portfolio of unsecured non-performing portfolio of credit cards, consumer loans, small business loans (“SBL”) and small & medium enterprises loans (“SME”) with total principal amount of c. €1.2 billion to CarVal Investors (Project Mirror). The consideration for the transaction was in excess of 9% of the principal, which is the highest % price achieved for any major unsecured NPL portfolios sold in Greece to date.
Established in 1841, NBG is one of the four Greek pillar banks, with €65bn of assets, c. 8, 000 employees and c. 400 branches.
Through the transaction, NBG has achieved a significant portion of its planned €4.5bn NPE reduction (inclusive of organic & inorganic) for 2019 and is also capital accretive to NBG.
CarVal Investors is a leading global alternative investment manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, CarVal’s team has navigated through ever-changing credit market cycles, opportunistically investing $116 billion in 5,360 transactions across 80 countries. Today, CarVal Investors has $10 billion in assets under management in corporate securities, loan portfolios, structured credit and hard assets.”
Oct 2021Securitsation - Arranger and financial lead advisorValue €5.2 billionOct 2021Service Credit TransactionsValue €5.2 billion
Jul 2021Sell-side advisoryValue €500 millionJul 2021Service Credit TransactionsValue €500 million
Jun 2021Sell-side advisory - Performing and Reperforming MortgagesValue €258 millionJun 2021Service Credit TransactionsValue €258 million
Jul 2021Securitisation - Sole arranger and financial advisorValue £95 millionJul 2021Service Credit TransactionsValue £95 million