BUCHAREST (Romania), May 21 (SeeNews) РThe National Bank of Greece (NBG) has announced that it has finalized the sale of a portfolio of Romanian venture capital (NPL) loans of 174 million euros ($ 212 million ) to Bain Capital Cr̩dit.

The transaction is capital neutral, the NBG said in a press release Thursday.

Deloitte Business Solutions SA acted as financial advisor to NBG, Milbank LLP and CMS Cameron McKenna Nabarro Olswang LLP SCP as external international and local legal advisers.

NBG announced the sale of NPLs in December.

At the time, the NBG stated that the transaction was implemented as part of NBG’s non-performing exposure deleveraging strategy and in accordance with operational objectives subject to the Single Supervisory Mechanism and that it had a neutral impact. on the bank’s capital.

The National Bank of Greece is a global banking and financial services company headquartered in Athens, Greece. Some 85% of the company’s pre-tax profit before tax comes from its operations in Greece, topped by 15% from southeastern Europe, according to its website.

In January 2020, NBG announced the completion of the sale of its 99.28% stake in Banca Romaneasca to Export-Import Bank of Romania (EximBank).

The Greek group is now present in Romania with the leasing company NBG Leasing and Insurance Company Garanta Asigurari, according to its website.

Bain Capital Credit is a global credit specialist with $ 43.7 billion in assets under management as of October 1, 2020. It invests primarily in leveraged loans, high yield bonds, distressed debt and financial situations. loans, direct loans, structured products, non-performing loans and equities.

($ = 0.8206 euro)


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