spot_img

      Subscribe Now!

 

Sunday, July 3, 2022
spot_img
spot_img
GreeceBusinessEurobank signs agreement with doValue for the sale of NPE portfolio

Eurobank signs agreement with doValue for the sale of NPE portfolio

Avatar
Hellenic News of Americahttps://www.hellenicnews.com
The copyrights for these articles are owned by HNA. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of HNA and its representatives.

Latest articles

Eurobank Holdings on Monday announced it has signed an agreement with doValue Group for the sale of a portion of the mezzanine and junior securitisation notes of the 5.2 billion euros nominal value (3.2 billion gross book value) multi-asset NPE portfolio of Eurobank S.A. (Mexico transaction) and for the ongoing servicing of the portfolio by doValue Group.

The transaction is expected to be completed by December 31, 2021 subject to the fulfilment of certain conditions, including the issuance of the ministerial decision on the inclusion of the Mexico securitisation in the Hercules Asset Protection Scheme (“Hercules II”).

Τhe loans of the Mexico securitisation will be reclassified as Held for Sale in Q3-2021. The completion of the sale of Mexico notes and the derecognition of Mexico loans will take place in Q4-2021, subject to the completion of the transaction and after having received all necessary approvals, as per the usual practice.

The transaction will have no material impact on the regulatory capital ratios of Eurobank and, post-closing, its NPE ratio is expected to stand at 7.3 pct.

SOURCE: AMNA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

Get Access Now!

spot_img
spot_img