Following the initial announcement of early May, Alpha Bank, trough the affiliate companies Alpha services and Holdings SA, has just completed the disposal of the Hermes portfolio, a mixed pool of secured Non-Performing Loans to Greek Large Corporate Entities and Small and Medium-sized Enterprises. This NPL portfolio has a total on-balance sheet gross book value of approximately 650 million euro. 

The operation is divided into tranches. 

“Hermes Tranche A Portfolio” comprises a total on-balance sheet gross book of 240 million euros, sold to Saturn Financial Investor DAC and Pluto Financial Investor DAC, entities financed by funds managed by affiliates of Fortress Credit Corp. 

The “Hermes Tranche B Portfolio” was acquired by Hermes Acquisitions B Designated Activity Company, an entity financed by funds managed by affiliates of Davidson Kempner Capital Management and funds managed by affiliates of Fortress Credit Corp. This comprises a pool of a total on-balance sheet gross book value of 410 million euros.

Original Story: Alpha Holdings Press Release
Photo: Site Alpha Bank
Edition: Prime Yield