AP Hermes Securitization Acquires EUR 700 Million NPL Portfolio

Deal News | Feb 05, 2025 | CEE Legal Matters

AP Hermes Securitization Acquires EUR 700 Million NPL Portfolio

Bernitsas Law has provided legal counsel to AP Hermes Securitization in its recent acquisition of a Non-Performing Loan (NPL) portfolio valued at approximately EUR 700 million. The portfolio comprised unsecured and secured loans, initially sold and transferred by Piraeus Bank as part of the wider Sunrise I Portfolio initiative. The legal advisors involved from Bernitsas Law included Partner Athanasia Tsene and Associate Odysseas Fokas. While Bernitsas confirmed their involvement, they have yet to comment further on the transaction.

Sectors

  • Finance
  • Legal Services

Geography

  • Greece – Piraeus Bank, the original seller of the NPL portfolio, is a prominent Greek financial institution.

Industry

  • Finance – The acquisition involves a significant financial transaction concerning Non-Performing Loans (NPLs).
  • Legal Services – Bernitsas Law is a legal advisory firm involved in the transaction.

Financials

  • EUR 700 Million – The total legal claim value of the acquired NPL portfolio.

Participants

NameRoleTypeDescription
AP Hermes SecuritizationBuyerCompanyThe firm acquiring the EUR 700 million NPL portfolio.
Piraeus BankSellerCompanyThe bank that originally sold and transferred the NPLs as part of their Sunrise I Portfolio.
Bernitsas LawLegal AdvisorCompanyProvided legal counsel to AP Hermes Securitization for the transaction.
Athanasia TsenePartnerPersonPartner at Bernitsas Law involved in advising on the transaction.
Odysseas FokasAssociatePersonAssociate at Bernitsas Law involved in advising on the transaction.