Alpha Bank-Eurobank-KKR Credit NPL platform

Overview:

• Alpha Bank, Eurobank and KKR Credit have established a new platform for the management of credit and equity exposures from the Greek banks including non-performing loans (NPLs).
• The deal will see a portfolio of said exposures assigned to Pillarstone, a fund and account business managed by KKR Credit.
• The transfer will free up the balance sheets of the Greek banks and provide long term capital.
• HSBC acted as the coordinator and structuring adviser for Alpha Bank with Mediobanca taking the same role for Eurobank.
• The European Bank for Reconstruction and Development (EBRD) has also expressed an interest in investing in the platform.

Sam Duke - Editor