According to the announcement by the listed company, the Portfolio is part of the Solar portfolio, which was classified as held for sale as of June 30, 2022. This portfolio was initially established as part of a joint initiative among the four systemic banks to manage non-performing corporate exposures, pursuant to the joint announcement dated November 2, 2023, which ultimately was not completed.
The Portfolio comprises corporate loans, including bond loans and other claims, with a total gross book value of approximately €0.3 billion as of December 31, 2024.
The financial impact of the Transaction has already been reflected in Piraeus Bank’s results for the six months ended June 30, 2025. Furthermore, the reduction in risk-weighted assets (RWA) associated with the Portfolio has been incorporated into Piraeus Bank’s pro forma total capital ratio as of June 30, 2025.
The securities issued under the securitization were acquired by a company managed by Waterwheel Capital Management, L.P. Portfolio management has been entrusted to Cepal Hellas S.A., an asset management company licensed by the Bank of Greece. This Transaction aligns with Piraeus Bank’s strategic plan for the proactive management of non-performing exposures.
