The largest sale of loans outside Hercules starts today under the name Ariadni, which includes 97,000 loans from 13 liquidated banks.
The special liquidator PQH today started the process of selling a portfolio of 97,000 loans from 13 liquidated banks. The book value of the loans amounts to 5.2 billion euros while the total receivables (including interest, etc.) amount to 14 billion euros. 60% of the portfolio includes business loans while most of it is covered by collateral.
This is the largest loan securitization that takes place outside the Hercules program and than the last one seems. Both PQH and banks have not planned such a sale of loans inside and outside Hercules. The size of the transaction has attracted the interest of all investors operating in the Greek market, such as doValue, Cepal-DK, Intrum, Cerved and others.
According to the PQH liquidator’s schedule, non-binding bids must be submitted by January 18, 2022 and binding ones by May. The transaction will then be evaluated and signed.
It is recalled that the completion of the sale of the Postal Savings Bank loans by PQH, under the name Daedalus, has entered the final stretch. It was preceded by the successful sale of the Ailos portfolio, with a book value of 1.075 billion euros to Intrum in May 2020.
.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
