Zepos & Yannopoulos is advising a consortium of funds advised by affiliates of Centerbridge Partners and Elliott Advisors on their acquisition of a secured NPL portfolio of approximately 12,800 secured non-performing small business lending and SME loans with an outstanding principal amount of approximately EUR 0.9 billion from NBG SA.
According to Zeya, "we assisted the consortium from the very preparatory stages of [the project] and submission of binding offers to the negotiation and execution of the sale and purchase agreement, on to the drafting and negotiation of all ancillary operational agreements. The transaction followed the market trend for this type of secured portfolios, applying the Greek securitization law 3156/2003 as a sale and transfer tool. This is the first-ever Greek deal implementing the securitization features under a Greek law governed receivables’ sale and purchase agreement."
The firm's team was led by Partner Christina Papanikolopoulou and Senior Associate Paris Tzoumas and included Partner Kely Pesketzi, Of Counsel Kitty Fragalexi, Senior Associate Mary Nigritinou, and Associates Athina Palli, Niki Ignatidi, and Alexis Kontogiannis.