The National Bank of Greece (NBG) has completed the sale of a Romanian portfolio of non-performing and underperforming corporate loans (NPLs) with a gross book value of approximately EUR 174 mln to Bain Capital Credit.

The portfolio has attached guarantees of approximately EUR 102 mln.

NBG was assisted in the transaction by the international law firm CMS. The transfer of the portfolio was approved by the Romanian regulatory authorities and the Financial Stability Fund of Greece.

The transaction represents one of the largest sales of corporate non-performing loans (NPLs) on the Romanian market.

"The completion of this very important deal can officially mark the resumption of transactions with non-performing loans in Romania. It was a complex project, carried out over a considerable time, which involved a sustained collaboration between teams of lawyers and consultants in many areas of legal practice (corporate law, financial-banking, real estate, commercial, tax) and which was carried out in the unprecedented context generated by the COVID-19 pandemic ", said Rodica Manea, Corporate M&A Partner within CMS Romania.

andrei@romania-insider.com

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