National Bank of Greece completes sale of non-performing loan portfolio
The National Bank of Greece announced on Monday the successful completion of the ‘Etalia A’ transaction, involving the sale of a non-performing exposure portfolio to an entity managed by Bain Capital.
The deal follows a previous market update released on September 30, 2025, regarding the disposal of the portfolio which has an outstanding principal amount of €0.1 billion.
Bain Capital acquired the assets through its interest in a special purpose vehicle known as Leon Issuer DAC.
This specific transaction serves to strengthen the total capital of the bank, according to an official statement released to the investing public.
Management of the portfolio has been assigned to the specialist servicer doValue Greece.
Morgan Stanley and Company International plc played a pivotal role by acting as the financial advisor and arranger for the entire transaction.
Legal support for the deal was provided by Karatzas and Partners, who served as the primary legal advisors on matters relating to Greek law.
Clifford Chance LLP also assisted in the process by acting as the legal advisor for English law.