We are delighted to announce the successful completion of Project Galaxy, Alpha Bank’s €10.81 billion GBV NPE portfolio HAPS guaranteed securitisation, the second largest of its kind in Europe. The project unfolded and reached successful closing all while the originator was undergoing a large scale corporate transformation process and spinning-off of its NPL servicing units to be sold via its then wholly owned servicing subsidiary. We acted for Alpha Bank since the very inception of Project Galaxy in all aspects spanning from structuring, transaction documentation drafting, and negotiation, to HAPS and SRT submissions, tender process support and closing.
The Zepos & Yannopoulos team was led by partners Christina Papanikolopoulou and Kely Pesketzi and assisted by Efthymis Naoumis (senior associate), Niki Ignatidi (associate), Athina Palli (associate) and other members of our Finance & Capital Markets practice group; partner Elena Papachristou advised on the regulatory aspects of the deal; tax partners Maria Zoupa, Daphne Cozonis and Alex Karopoulos took upon the tax advice for the transaction assisted by Georgia Voutsa senior director of our accounting business unit.