Another secondary securities loan transaction took place, with doValue managing Project Neptune with a gross book value of € 500 million. It is part of an earlier 1.1 billion-euro deal bought by Fortress Investment Group from Alpha Bank in 2020 and then handed over to CEPAL.
With the Neptune project, doValue takes over the long-term management of almost 50% of the initial securitization. This transaction is expected to be completed by the end of April 2022. The portfolio includes non-performing loans to companies secured by real estate in Greece.
This is another big transaction for doValue in Greece, after the securitization of Frontier of the National Bank worth 5.7 billion euros, in collaboration with Fortress and Bain. It also comes after the securitization of Eurobank (Mexico) worth 3.2 billion euros, where doValue provides management services but also resale of the portfolio and specialized investors.
Source: Capital
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