Athens, Greece. The National Bank of Greece announced the completion of the Etalia B transaction involving the sale and transfer of non-performing exposures. The deal covers a non-performing exposure portfolio with €0.1 billion in outstanding principal.
Etalia B portfolio transfer
The bank said the portfolio was transferred to Creditable Opportunities Fund SCA SICAV-RAIF, an acquisition vehicle associated with the EOS Group. It added that the transaction strengthens its overall capital position and supports its financial resilience.
Servicing and advisers
Management of the portfolio has been assigned to EOS Matrix Greece, which will oversee its administration. Morgan Stanley & Co. International plc acted as financial adviser and arranger, while Karatzas & Partners advised on Greek law and Clifford Chance LLP advised on English law.
Previous Etalia A completion
The announcement follows the bank’s earlier confirmation this week of the completion of the Etalia A transaction, which also involved a €0.1 billion non-performing exposure portfolio. That transaction involved the sale of assets to an entity managed by Bain Capital, acquired through a special purpose vehicle known as Leon Issuer DAC.
How do the Etalia A and Etalia B transactions fit into the National Bank of Greece’s balance sheet clean-up efforts?
