Morgan Stanley has been appointed by a Greek liquidator to sell €4.8 billion of loans made by Greek banks that failed during the country’s decade of economic turmoil. 

The deal, dubbed Project Alphabet, comprises three portfolios of mostly non-performing loans (NPLs) from a group of 13 banks that are in the process of being liquidated, according to people familiar with the transaction. The debt includes secured retail loans, secured corporate loans and unsecured transactions, the same sources told Bloomberg News.

Although the deal is in its early stages and subject to change, it is expected to close in the first half of the year.

Original Story: Bloomberg News | Author: Esteban Duarte and Sotiris Nikas
Edition: Prime Yield