Zepos & Yannopoulos advised Bain Capital Credit LP (Bain Capital) in relation to the acquisition of a portfolio of c. 2,800 primarily secured non-performing corporate loans with a total outstanding principal amount of c. €1.6 billion (c. €0.6 billion of allocated collateral value) originated or otherwise owned by National Bank of Greece S.A.
We assisted Bain Capital from the very preparatory stages of Project Icon and the submission of binding offers, to the negotiation and execution of the Greek law governed sale and purchase agreement, on to the drafting and negotiation of all ancillary operational agreements. The transaction followed the market trend for this type of portfolios, applying the Greek securitisation law 3156/2003 as a sale and transfer tool.
The transaction team was led by partner Christina Papanikolopoulou and senior associate Paris Tzoumas, assisted by associate Niki Ignatidi and other Zepos & Yannopoulos members.
