Pimco buys landmark Eurobank mortgage NPL deal

Owen Sanderson

June 27, 2019 02:30 PM

Greece — An EU flag flies in front of ancient Parthenon temple, in Athens, on Wednesday, April 9, 2014. Greece announced Wednesday it was returning to international bond markets for the first time in four years amid growing signs of financial confidence in the country. (AP Photo/Petros Giannakouris) | Petros Giannakouris/AP/Press Association Images

Pimco has bought junior and mezzanine risk in Eurobank’s landmark mortgage non-performing loan (NPL) securitization, Project Pillar, the first Greek NPL deal to obtain a public rating. The US-based investor is also in exclusive negotiations with Eurobank over Project Cairo and Project Europe, the next asset sales from the Greek bank.

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RMBS Securitization

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Owen Sanderson