December 20, 2019

Milbank Advises Eurobank on Market-First NPL Transaction

Milbank Advises Eurobank, a Leading Greek Bank, on the Sale of FPS and the Strategic Partnership with DoValue

The transaction included the negotiation of a 10-year servicing contract with FPS for the servicing of €5.6 billion of Eurobank’s NPE and Euro 5.7 billion of Eurobank’s retail early arrears, as well as any future production, and the related shareholder arrangement governing the parties’ ongoing strategic relationship as shareholders of FPS. In addition, the parties agreed on the sale of a portion of Mezzanine and Junior Securitization Notes of the Eurobank €7.5 billion multi-asset NPE Securitization.

The Milbank team was led by Corporate partner Mark Stamp, European Leveraged Finance/Capital Markets partner Apostolos Gkoutzinis, corporate counsel Merih Altay, associates Sarah Ullathorne and James Mackay and Technology associate Faraaz Samadi.