Zepos & Yannopoulos has advised the entities managed by Bracebridge Capital on the securitization of the Frontier III portfolio, a EUR 700 million non-performing loan portfolio originated by the National Bank of Greece.
According to Zepos & Yannopoulos, the transaction included the receipt of a state guarantee on the Senior notes under the Hellenic Asset Protection Scheme. As part of the deal, NBG retained 100% of the senior notes and 5% of the mezzanine and junior notes, while 95% of the mezzanine and junior tranches were sold to funds managed by Bracebridge Capital.
In 2024, Zepos & Yannopoulos advised on National Bank of Greece Frontier II securitization (as reported by CEE Legal Matters on March 5, 2024).
The Zepos & Yannopoulos team included Partner Paris Tzoumas, Senior Associate Efthymis Naoumis, and Associate Tina Sofianou.
Zepos & Yannopoulos did not respond to our inquiry on the matter.
