Submission of application for the inclusion of NBG’s Frontier securitization under the Hellenic Asset Protection Scheme (“HERCULES”)
Σάββατο, 30 Ιανουαρίου 2021 11:51In the context of its transformation program, National Bank of Greece SA has launched the securitization of a portfolio of non-performing loans under the project name "Frontier", accounting for €6.1 billion in terms of gross book value.
The Bank has submitted yesterday, the 29th of January 2021, an application for the inclusion of Frontier under the "Hercules" guarantee scheme, according to the provisions of Law 4649/2019. The application provides for a guarantee by the Greek State for senior notes with a total value up to Euro 3.31 billion.
Both the transaction process and the approval for the guarantee by the Greek State are currently underway.
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