Ellington buys into Greek NPL securitization
US hedge fund Ellington Management has bought into the equity of a private Greek NPL securitization, cutting the investment that Aldridge EDC, the original investor in the portfolio, has to put down.
Aldridge paid €70m for the €806m of equity notes in the €1.3bn portfolio, which was originated by Attica Bank, and €80,000 for 80% of Attica’s loan servicer Thea Artemis.
Thanks to Ellington’s investment, the equity cheque contributed by Aldridge subsidiary DDM, will be cut by €15m to
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