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.