Bernitsas law acted as Greek counsel to Piraeus Bank in connection
with its first public NPE securitisation in the Greek market, with a
gross book value of €1.92bn comprised primarily of non-performing
residential mortgage loans.
The securitisation is expected to be enrolled in the Hercules Asset
Protection Scheme (Hercules), a guarantee scheme introduced by the
Hellenic Republic.
Piraeus Bank is the largest of the four Greek systemic banks and listed on the Athens Exchange.
UBS Europe SE acted as sole arranger and financial advisor to Piraeus Bank.
Alantra acted as financial advisor to Piraeus Bank