Alantra acted as co-arranger and financial advisor to Piraeus Bank on its 7th successful NPE securitization

Mar 2024

SFABS – Sell-side

Greece – Alantra has acted as co-arranger and financial advisor to Piraeus Bank (“Piraeus”) on its 7th successful NPE securitization, following the signing of a definitive agreement with Intrum AB and Waterwheel Capital in November 2022.

Headquartered in Athens, Greece, Piraeus Bank is a Greek multinational financial services company which provides banking products and services internationally.  

Intrum provides credit management services that offer advantages to companies of all sizes, fostering strong cash flow and contributing to continuous growth. Annually, Intrum supports 80,000 companies and maintains daily contact with 250,000 individuals in debt. Intrum strives to enhance the well-being of its clients, their customers, the industry, and society at large.

Founded in November 2017, Waterwheel Capital aims to generate absolute returns by seizing dislocated opportunities through targeted investment vehicles.

Andreas Zacharakis, Vice President at Alantra, added: “This transaction constitutes the latest in a series of successful securitizations that we have advised our client Piraeus Bank. It is the first securitization that was officially granted approval for HAPS protection, upon re-enactment of the Greek HAPS law, and further demonstrates Alantra’s capabilities to advise on complex credit transactions.”  

This transaction is part of a wider transformation Piraeus announced on 16 March 2021, Project Sunrise, and follows the successful closing of the €7.2bn Sunrise I and €2.7bn Sunrise II securitizations in 2021.