doValue announced the completion of Project Souq, the disposal to intrum of two non-performing loans (NPL) portfolios of approximately €630 million of aggregate gross book value related to the Cairo 1 and Cairo 2 HAPS securitization vehicles (both managed by doValue Greece).

Project Souq is one of the largest secondary sales of NPL portfolios in Europe and the first ever Greece secondary NPL transaction on the doLook platform, the digital trading platform which doValue has developed jointly with fintech company Debitos.

In a press release, the services says that “the transaction, which was structured, executed and completed by doValue Greece in volatile market conditions, allows doValue to accelerate the collection activity in Greece whilst retaining the long term servicing mandate on the two portfolios acquired by Intrum”.The process leading to the disposal was implemented also thanks to doLook, the digital NPL. Hellenic Finance acted as Financial Advisor for the sale process.

Original Story: doValue |Press Release 
Photo:Intrum website
Edition: Prime Yield