Akin Advises Alpha Bank on €0.41 Billion Sale of Non-Performing Loan Portfolio

May 09, 2023

Reading Time : 1 min

Contact:

Jacinta O'Shea-Ramdeholl

Director of Communications

Scott Wasserman

Senior Media Relations Manager

(London) - Akin is advising Alpha Bank S.A. on its disposal of the Hermes Tranche B Portfolio of corporate non-performing loans (total on-balance sheet gross book value of €0.41 billion) to an entity financed by funds managed by affiliates of Davidson Kempner Capital Management and Fortress Credit Corp.

The transaction, due to be completed this month, is expected to have a positive impact in terms of the capital and the liquidity of the Alpha Bank Group.

To learn more, please click here.  

Akin corporate partner Gavin Weir said, “We are delighted to advise Alpha Bank on another strategically important transaction as part of the bank’s updated business plan. We anticipate more activity in the European non-performing loan space in the next 12-18 months and are well placed to advise banks, servicers and financial investors on these complex transactions.”

Alongside Mr. Weir, the Akin team was led by financial restructuring partner Sam Brodie and included finance partner Rizwan Kanji and associates Mike Gorski and Sahar Abas.

Last year Akin advised Alpha Bank on its successful strategic partnership with payments specialist Nexi S.p.A.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East.

###

Share This Insight

Related Services, Sectors, and Regions

© 2024 Akin Gump Strauss Hauer & Feld LLP. All rights reserved. Attorney advertising. This document is distributed for informational use only; it does not constitute legal advice and should not be used as such. Prior results do not guarantee a similar outcome. Akin is the practicing name of Akin Gump LLP, a New York limited liability partnership authorized and regulated by the Solicitors Regulation Authority under number 267321. A list of the partners is available for inspection at Eighth Floor, Ten Bishops Square, London E1 6EG. For more information about Akin Gump LLP, Akin Gump Strauss Hauer & Feld LLP and other associated entities under which the Akin Gump network operates worldwide, please see our Legal Notices page.