Attica Bank Sells Non-Performing Loans


1 minute read | October.11.2023

Attica Bank S.A. has sold a portfolio of securitised non-performing loans that formed part of its Astir I securitisation portfolio, with a total book value exceeding €300 million.

Orrick acted as international counsel for the bank.

THE COMPANY

Established in 1925, Attica Bank provides a range of financial services to individuals and businesses in Greece. 

THE IMPACT

The transaction involved the sale to a special purpose vehicle established by funds under the management of AB CarVal Investors L.P. and it represents a key milestone for Attica Bank in the context of its strategy for the divestment of non-performing loans.

The transaction has a positive impact on the Bank's results, while at the same time it strengthens the Bank's capital by approximately 60 basis points, the bank said.

THE TEAM

Orrick’s Madeleine Horrocks and Annalisa Dentoni-Litta led the team that advised Attica Bank. The team also included Franco Lambiase and Noemi Biagini.

LEARN MORE

Attica Bank announcement

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