trending Market Intelligence /marketintelligence/en/news-insights/trending/vVqpFZOje3bqLWFC9b6U2w2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

National Bank of Greece sells 1st secured NPL portfolio

Blog

Tracking Credit Risk at a Major U.S. Retailer

Blog

Banking Essentials Newsletter: March Edition - Part 2

Blog

A Bank Takes Its Project Finance Assessments to a New Level

Blog

Street Talk Episode 75


National Bank of Greece sells 1st secured NPL portfolio

National Bank of Greece SA sold a secured portfolio of nonperforming loans — dubbed Project Symbol — with a total principal amount of approximately €900 million to Symbol Investment NPLCO DAC.

The portfolio comprises small business lending and small and medium-sized enterprise loans. The transaction's consideration was equivalent to roughly 28% of the portfolio's principal amount and is capital accretive to NBG, based on its common equity Tier 1 ratio as of Sept. 30.

Symbol is jointly owned by funds managed by Centerbridge Partners LP and Elliott Advisors (UK) Ltd.

Morgan Stanley served as financial adviser.