Europe's NPL breakthrough: securitizations to boom after Montepio’s trailblazer

By Bill Thornhill
09 Nov 2017

Unclogging the balance sheets of Europe’s banks has been a long and painful process, and one that has inhibited the region’s growth and recovery. But, as Bill Thornhill reports, the first securitization of non-performing loans without a government guarantee by a Portuguese bank this week is a crucial development for Europe’s heavily burdened banking sector.

Many believe that, following Caixa Económica Montepio Geral’s deal, the European NPL securitization market could surge over the next year.

The €172m deal, Évora Finance, was secured on assets with a gross book value of €580m and attracted over 30 investors ...

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