ECONOMY

Auction deadline for Galaxy is Oct 9

Auction deadline for Galaxy is Oct 9

Bidders for Alpha Bank’s Galaxy loan portfolio securitization and its bad-loan management subsidiary Cepal have until Friday, October 9, to submit their binding offers, Kathimerini understands.

The securitization of the Galaxy portfolio, worth 10.8 billion euros, constitutes the biggest such project attempted by a Greek lender.

Its suitors are Pimco, one of the biggest capital managers in the world, fellow US investment fund Davidson Kempner, and Italy’s Cerved and Credito Fondiario.

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