National Bank of Greece agrees to sell a Romanian-risk non-performing loan portfolio (Project Danube) to Bain Capital Credit


National Bank of Greece (“NBG”) announces that it has entered into a definite agreement with Bain Capital Credit (“Bain Capital”) for the disposal of a Romanian-risk corporate NPE portfolio (“Project Danube”) with a total Gross Book Value of c. €174 million (€102 million of allocated collateral value). The transaction is being implemented in the context of NBG’s NPE deleveraging strategy and in accordance with the Operational Targets submitted to the Single Supervisory Mechanism (“SSM”).

The transaction has a neutral capital impact to the Bank.

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

The closing of the transaction is subject to standard conditions precedent, including the approval of the transaction by the Competition Council of Romania, as well as the consent of the Hellenic Financial Stability Fund.