National Bank: Application for inclusion in the ‘Hercules II’ program of Frontier II

- Advertisement -

As part of its Transformation Program, the National Bank of Greece SA has started the process of securitization of a portfolio of non-performing loans codenamed “Frontier II”, with a total book value of 1 billion euros.

The National Bank submitted today, June 29, 2022, an application for the inclusion of securitization in the Guarantee Program “HERACLES II” based on Law 4649/2019.

- Advertisement -

The application concerns the provision of a guarantee by the Greek State for the high repayment priority bonds with a total value of up to 460 million euros.

Finding an investor and accepting the guarantee request from the Greek State are ongoing processes.

- Advertisement -

The NBG is the fourth credit institution to apply for membership in the “Hercules II” program, for which a total of five applications have been submitted.

Source: Capital

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Hot Topics

Related Articles