ECONOMY

National sells NPL portfolio to Bain Capital for €1.6 bln

National sells NPL portfolio to Bain Capital for €1.6 bln

The National Bank of Greece Group on Friday announced the completion of a transaction for the disposal of a nonperforming, predominantly secured, corporate loan portfolio to the investment firm Bain Capital Credit for a total principal amount of 1.6 billion euros.

In a statement, National Bank said that Morgan Stanley & Co International Plc acted as financial adviser, Karatzas & Partners and Milbank LLP as local and international external legal counsel, respectively, and Deloitte Greece as transaction and accounting adviser to NBG.

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