NBG completes sale of Project Marina to Bain Capital Credit
NBG completes sale of Project Marina to Bain Capital Credit
  Deals  |  Listed  |  Economy

NBG completes sale of Project Marina to Bain Capital Credit

The portfolio consists predominantly of legacy non-performing loans.
RE+D magazine
18.07.2022

Following the relevant announcement on October 16th, 2020, National Bank of Greece informed investors that it has completed the disposal of its 100% stake in a Cypriot Credit Acquiring Company to Bain Capital Credit.

CAC Coral holds a portfolio of non-performing corporate, SME and consumer and mortgage loans with total Gross Book Value of c. €325 million (€200 million of allocated collateral value). 

The portfolio consists predominantly of legacy non-performing loans. 

The transaction has a neutral capital impact to the Bank. 

Alantra Corporate Portfolio Advisors International Ltd is acting as financial advisor to NBG, Milbank LLP and Chryssafinis and Polyviou LLC as international and local external legal counsels and Deloitte Greece as transaction and accounting advisor.