Piraeus securitizes NPL debt pile with Intrum AB

By Tom Brown
02 Mar 2021

Piraeus Bank has agreed its largest NPL sale to date, with debt purchasing firm Intrum AB agreeing to buy 30% of the mezzanine notes in the securitization of the €4.9bn portfolio.

Alantra, JP Morgan, and UBS advised the Greek bank on the sale, named Project Vega.

Piraeus split the portfolio between three securitization vehicles, Vega NPL Finance I, II and III. Altogether they hold a gross book value of €4.9bn, making the deal one of the biggest securitizations set ...

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