National Bank of Greece completes the disposal of its first secured non-performing loan portfolio (Project Symbol)

Following relevant announcement on July 29, 2019, National Bank of Greece informs investors that it completed the disposal of its first secured non-performing portfolio of small Business Lending and Small & Medium Enterprises loans with total principal amount of c. €0.9 billion (Project Symbol) to Symbol Investment NPLCO DAC (a company jointly owned by funds managed by Centerbridge Partners, LLP and Elliott Advisors (UK) Limited).

The consideration of the transaction is equivalent to c. 28% of the principal amount of the portfolio and is capital accretive to NBG (based on Q3 2019 CET 1 ratio).

Delfi Partners is delighted to have been part of the first secured NPE portfolio sold by the National Bank of Greece. Delfi Partners Hellas was the lead real estate underwriter to Centerbridge and Elliott for the €900m Symbol portfolio.

Delfi Partners is looking forward to asset managing the book and supporting the investor consortium maximising returns. We congratulate Centerbridge and Elliott in their success.

Source: National Bank of Greece