In 2 March 2021 Piraeus Bank and Intrum AB (publ) signed a binding agreement for the sale of thirty percent (30%) of the mezzanine notes of the Vega non-performing loan securitisations transaction, comprising predominantly denounced loans, secured by residential and commercial real estate of a total GBV of c 4.9 bn. The Bank has applied for the provision of a guarantee by the Greek State on the senior notes of c.€1.4bn. pursuant to the "Hercules" Asset Protection Scheme of Law 4649/2019.
DVLaw is proud to advise Piraeus Bank as Greek law counsel, together with YLP, in this landmark securitisation transaction and work together with the Bank’ project team and the rest of the advisors towards its successful consummation.
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