Piraeus Sells €1.95 Billion Portfolio of Non-Performing Corporate Credit Exposures

Shearman & Sterling advised Piraeus Bank S.A. on the sale of a portfolio of non-performing corporate credit exposures? to Bain Capital Credit LP. The size of the portfolio is approximately €1.95 billion.

This transaction marks the first time a portfolio of commercial real-estate backed non-performing credit exposures has been sold in Greece.

The closing of the transaction is subject to customary conditions and regulatory and other approvals, including the consent of the Hellenic Financial Stability Fund.

Shearman & Sterling advised Piraeus Bank S.A. with a team including Mei Lian (Picture), Simon Letherman, David Shennan, Woo Suk Hong and WonJu Sul.

 

Involved fees earner: Mei Lian – Shearman & Sterling; David Shennan – Shearman & Sterling; Woo Suk Hong – Shearman & Sterling; WonJu Sul – Shearman & Sterling; Simon Letherman – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Piraeus Bank S.A.;