Following relevant announcement on July 29, 2019, National Bank of Greece informs investors that it completed the disposal of its first secured non-performing portfolio of small Business Lending and Small & Medium Enterprises loans with total principal amount of c. €0.9 billion (Project Symbol) to Symbol Investment NPLCO DAC (a company jointly owned by funds managed by Centerbridge Partners, LLP and Elliott Advisors (UK) Limited).
The consideration of the transaction is equivalent to c. 28% of the principal amount of the portfolio and is capital accretive to NBG (based on Q3 2019 CET 1 ratio).
Morgan Stanley acted as financial advisor while Karatzas & Partners and Milbank LLP as local and international external legal counsel respectively to NBG.