(Visited 124 times, 1 visits today)
(Visited 124 times, 1 visits today)

Eurobank to sell bad mortgage loans to Pimco

Eurobank agreed to sell a 2.0 bn euro mortgage NPLs to Pimco group as part of efforts to clean up its balance sheet.

Based on the deal, Celidoria, an entity owned by PIMCO, will buy 95% of the mezzanine and junior notes of the portfolio. The sale is valued at about 58% of the total gross book value of the portfolio, the bank said. Eurobank said it expects to close the transaction by July, subject to approval by the ECB.

Eurobank also agreed to start exclusive talks with Bravo Strategies III, a Celidoria affiliate, on another pool of securitized NPLs, and the sale of a majority stake of its servicer, FPS. Exclusive negotiations would start immediately and end on September 30.

(Visited 124 times, 1 visits today)

Read more:
NBG Pangaea acquires 60% of Aphrodite Hills and Aphrodite Spring in Paphos, Cyprus

Pangaea's invested €31,8 m. for the acquisition of 60% of Aphrodite Hills and Aphrodite Spring. Aphrodite Hills Resort spreads over...

Close