untitled design

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

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.

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.

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

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights


Most popular