Reports: 4 non-binding bids for Alpha Bank's Neptune portfolio

Monday, 12 August 2019 21:44
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At least four non-binding offers - by Bain Capital, Apollo, Fortress and LoneStar - were reportedly submitted last Monday for Alpha Bank's Neptune portfolio of NPLs, with a mixed valued of 1.8 billion euros, and with guarantees linked to approximately 4,000 properties.

The properties/collateral covering the loans are estimated to have a commercial value of 1.1 billion euros.

The portfolio includes loans extended to roughly 1,100 SMEs in Greece, of which 75 percent are considered as unserviced, while the rest are overdue.

Neptune is the fourth portfolio of property-linked loans that has gone on the auction block.

Previous sales include Piraeus Bank's Amoeba; Alpha's Jupiter and National Bank's Symbol portfolio.  

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