Bloomberg: Credit Suisse Exits Distressed-Debt Trading as Bank Cuts Risk By Giulia Morpurgo, Lucca De Paoli, Laura Benitez & Marion HalftermeyerFebruary 15, 2023 The bank is selling a book of assets including bond and loan positions related to distressed companies, with a market value of about $250 million, according to people with knowledge of the…
The increase of Greece’s PPC share capital, in simple stock market terms The need for an increase in Share Capital in each company arises from the strategic plans and its capital structure. It is obvious that the PPC management saw the need for capital increase along with the existing borrowing and the proceeds from the…
Sigma Managing Partner Mr. Skaleos at the panel of the NPL Management Forum Sigma Catalyst managing partner Mr. Dimitris Skaleos participated in the panel of Restructuring, Turnarounds and Special Situations on DDC’s NPL Management Forum Athens, Greece 5-6 October 2021.
Family offices offering long-term, flexible capital in the uncertain environment “Some family offices are gearing up to take advantage of the pandemic-spurred market dislocation, bringing to bear their long-term, flexible capital into an uncertain environment”, writes Justin Mitchell on Buyouts.
Reuters : Greece’s bad bank liquidator sells 1 bln euro loan portfolio to Intrum Hellas On December 20th, PQH, the liquidator for bad banks in Greece, has signed a deal to sell a 1 billion euro ($1.11 billion) portfolio of unsecured impaired loans to loan servicer Intrum Hellas.
Reuters : Bad bank liquidator sells 1 bln euro loan portfolio to Intrum Hellas PQH, the liquidator for bad banks in Greece, has signed a deal to sell a 1 billion euro ($1.11 billion) portfolio of unsecured impaired loans to loan servicer Intrum Hellas.
Greece: Piraeus Bank enters into strategic alliance with Intrum for the management of €28bil NPEs & REOs On June 3rd, Piraeus Bank S.A. announced a strategic partnership with the Swedish credit management services provider, Intrum for the management of about €27bil Non Performing Exposures (NPEs) and about €1bil Real Estate Owned Assets (REOs), both currently…
Sigma Catalyst Partners at the “Debt in European Emerging Markets” forum in Bucharest, April 11th. We are proud to participate at the upcoming “2nd edition Debt in European Emerging Markets” forum organised by WJ Global Group, in Bucharest April, 11th. Dimitris Skaleos will be joining as a speaker on the “Turnarounds & Corporate Restructuring” panel. Click…
Sigma Catalyst Partners quoted in NPL transactions article οn online news portal & newspaper, Capital.gr March 11th, 2019 Click here to read the full article
Greece: Alpha Bank sells €1bil SME secured + €51mil REOs & €1.3bil consumer unsecured NPL portfolios On November 29th Alpha Bank announced that it has entered into two binding agreements, one of which with a consortium of funds managed by affiliates of Apollo Global Management and IFC for the disposal of project Jupiter and another…
Sigma Catalyst Partners at the “Debt & Restructuring forum” in Vienna, November 28th November 22nd, 2018 We are proud to participate at the upcoming “3rd edition Debt & restructuring forum” organised by WJ Global Group, in Vienna, November 28th. Dimitris Skaleos will be moderating a panel on “Corporate & SME Restructuring in Greece”. Click here…
Sigma Catalyst Partners at the Smith Novak “NPL Greece & SEE” Summit During the recent “NPL Greece & SEE” Summit that took place at the Divani Caravel Hotel in Athens with more than 200 delegates and 90 companies participating, we had the opportunity to exchange views with key players from the banking, NPL servicing and…
Greece: NBG to sell € 2bil consumer/SBL unsecured NPL portfolio According to press reports, NBG is expected to proceed with selling a € 2bil consumer NPL portfolio in the late 1H 2018. The portfolio sale which is to be named “project Earth”, will consist of credit card debt, cash overdrafts, unsecured consumer and small businesses’…
Eurobank sells € 1.5bil consumer unsecured NPL portfolio Eurobank Ergasias announced the sale of € 1.5bil consumer unsecured NPL portfolio to Intrum Group.
CVC enters into a binding agreement to acquire IASO General Hospital On November the 6th, CVC Capital Partners announced the signing of a binding agreement to acquire private hospital IASO GENERAL through Hellenic Healthcare Sarl, an entity controlled by funds advised by CVC. The transaction is subject to customary terms and conditions including due diligence…
Alpha Bank, Eurobank and KKR reach agreement to support Greek companies Alpha Bank, Eurobank & KKR have agreed to assist Greek companies through assigning to Pillarstone’s platform the management of credit and equity exposures towards them.
Romania’s BCR returns to profit – reverses NPL provisions According to news site Romania-Insider.com, BCR Romania’s largest bank and subsidiary of Austrian group Erste, recorded a net profit of EUR 206 million in 2015. In 2014, the bank had net losses of EUR 630 million, due to high write-offs related to non-performing loans totaling almost…
January 21st, 2016 Romania’s BCR to sell EUR 1bn of NPLs According to Romanian business site BnE IntelliNews, Romania’s BCR (Erste Group) shall continue to sell non-performing loans (NPL) in the amount of over €1bn. According to the site, bundles of NPLs sold by BCR can include loans from BCR’s portfolio both on its balance…
December 29th, 2015 Greek Deputy Finance Minister Charitsis: EU funds of € 8 bln to be channeled into the Greek market in 2016 More than 8 billion euros will be channeled into the Greek market in 2016 through the Public Investments Program (PIP) and international organizations such as the European Investment Bank, the European Bank for Reconstruction…
November 17th, 2015 Greek banks AQR results came out better than “feared” by EU officials The four systemic Greek banks’ AQR and stress tests were recently released by ECB. Total assets of close to €300bn were placed under ECB’s stress tests. The resulting total capital shortfall reached €14.4bn under the adverse scenario. This amount is…
September 1st, 2015 Tourism developments drive real estate investments in Greece despite recent capital controls crisis The Greek Real Estate Market is showing signs of activity mainly driven by tourism investment. While privatizations of Astir Vouliagmeni and the Ellinikon real estate project have been delayed for many months, private investors progress opportunities in high end…
May 26th, 2015 Greek Banks’ balance sheet clean-up starts with hotel assets Greek Banks are continuing with sales of problematic and repossesed hotel properties. Piraeus Bank is in the process of selling a portfolio of hotel property NPLs valued at approx. EUR 250 million. In addition, two iconic Athens hotels (Athens Ledra Marriott and Pentelikon) are…
March 26th, 2015 Greek listed companies divest subsidiaries and assets to improve liquidity and reduce debt Greek listed companies mostly active in problematic sectors (coastal shipping, fish-farms, capital goods), which face structural problems as well as high debt, have discretely proceeded to sell international subs and real estate assets during 2014.
December 28th 2014 Piraeus Bank – KKR announce €1,2 bil. securitization deal. Piraeus Bank recently announced that it has agreed with the investment firm KKR to transfer (to an SVP) and securitize a portfolio of assets of €1,2 bil. (this amount refers to Piraeus’ corporate exposure, i.e. both loans and equity participation in MIG) to…
December 29th 2014 Alpha Bank launches joint venture with Aktua (Spain), to service non-performing assets Alpha Bank has signed a memorandum of understanding with Aktua Soluciones Financieras, a leading Spanish special servicer, to create and launch an innovative special servicing joint venture, Aktua Hellas.
December 12th 2014 Alpha Bank Raises USD 500 mil in shipping loans securitization Alpha Bank recently completed a shipping loan securitization transaction with Citi which involves 5 years term non-recourse funding in excess of USD 500 mil.
September 21st 2014 Greece signs €800 mil. financing agreements with EIB for infrastructure projects EIB loans to Greece are expected to exceed € 1.5 billion in 2014, as EIB Chairman Werner Hoyer stressed the remarkable progress in Greek fiscal data over the past two years , which also resulted to the country’s successful bond issue…
July 9th 2014 Peloponnese waste PPP project receives environmental approval The Ministry of Environment, Energy and Climate change approved the environmental terms of the waste treatment PPP project in the Peloponnese Prefecture.
June 12th 2014 Completion of the pre-selection phase for the PPP Project of the waste treatment unit in Corfu Five out of initially six local consortia that had expressed interest, where pre-selected by the Municipality of Corfu. Those five consortia will continue in the process of the competitive dialogue.
May 7th, 2014 €20m tender for Waste Treatment facility in Thiva, Viotia announced The project refers to the construction of waste treatment facility in Thiva to treat 35.000 ton/y of municipal solid waste generated in the region (2nd Viotia prefectural unit). The total budget of the project is €20 mil., co-financed by the Cohesion Fund…
May 23rd, 2014 Fitch upgrades Greece’s rating Fitch Ratings has upgraded Greece’s Long-term foreign and local currency Issuer Default Ratings to ‘B’ from ‘B-‘ with stable outlook.
May 9th, 2014 Signing of the PPP for the construction and operation of 10 school buildings in Attica The agreement was signed on Friday 9th May 2014. The contracting authority of the project is KTYP of the public sector and the contractor is J&P AVAX.
May 6th, 2014 Six local consortia expressed interest for the waste management project of Corfu The contractor will be selected through public international competition with competitive dialogue procedure and will undertake the design, financing, construction, maintenance and operation for the waste treatment unit in Corfu.
April 28th, 2014 Greece Achieves Primary Surplus The European Commission has confirmed that Greece has achieved a primary budget surplus of 1.5 billion Euro, or 0.8% of GDP, in 2013 being well ahead of the 2013 target.
March 24th, 2014 Municipality of Corfu announces waste management PPP The Municipality of Corfu announced competitive dialogue for the design, financing, construction, maintenance and operation of waste management facilities in Corfu through a PPP. The unit will process about 87,000 tonnes of waste for 27 years.
March 6th, 2014 Jessica to fund a biogas project in Central Macedonia A 4.5 million € biogas project in Central Macedonia to be funded by EU urban development fund “JESSICA” was signed today with Piraeus Bank.
February 11th, 2014 J&P Avax – Mesogeios – AAGIS announced as the preffered bidder for the Ilia waste management PPP project The unit of Ilia will process 80,000 tonnes of waste for 27 years while the constracting cost is estimated at 36 million Euros. The NSRF will be funding the project with 16 million, while…
February 3rd, 2014 The Epirus Waste Management PPP reaches its final phase The final tender documents were issued for the implementation of the Epirus waste management PPP and the six candidates are invited to submit their binding offers on April 2nd, 2014.
January 31st, 2014 3 Greek consortia submitted binding offers for the waste management PPP project in Ilia The Municipality of Ilia, contracting authority of the implementation of the Waste Treatment Unit, announced on Wednesday January 29th, 2014 that 3 consortia submitted binding offers.
January 8th, 2014 Six Greek consortia preselected for the second phase of the competition for the Eastern Macedonia & Thrace MSW/PPP project The first phase of the tender for the selection of the private partner who will undertake the implementation of the Eastern Macedonia & Thrace MSW/PPP project, is concluded.
January 3rd, 2014 Archirodon-Intrakat-Envitec announced as the preferred bidder for the Serres waste management PPP project ESANS S.A., the contracting Authority of Serres announced the conclusion of the international tender for the implementation of the new waste treatment unit in the Region.
December 20th, 2013 Aktor Concessions – Helektor announced as the preferred bidder for the Western Macedonia solid waste PPP tender
December 4th, 2013 Seven Greek consortia submit expressions of interest for the implementation of the MSW/PPP project in Eastern Macedonia & Thrace Strong investor interest for the first phase of the PPP Waste Management contest of Eastern Macedonia & Thrace Region. The contest progresses rapidly.
December 3rd, 2013 Fitch upgrades Greece’s credit rating to B-/steady outlook- Country ceiling upgraded to B+ Ratings on Monday affirmed Greece’s long-term foreign and local currency issuer default ratings (IDR) at B-. The issue ratings on Greece’s senior unsecured foreign and local currency bonds have also been affirmed at B-.
October 24th, 2013 New MSW/PPP project in Eastern Macedonia and Thrace Following the approval by the PPP of 10/04/2013, the first phase of the competition for the Waste Management of Eastern Macedonia and Thrace, with the Municipality of Alexandroupolis acting as contracting authority, is announced.
October 21st, 2013 Submission of Binding Offers for the PPP project in Serres The Ministry of Development announces the beginning of the final phase for the MSW/PPP project of Serres.
October 3rd, 2013 The Economic Committee of Patras Municipality announces the start of the competitive dialogue for the construction of the new MSW/PPP unit in Achaia The Committee unanimously approved the invitation to the second phase of the tender, the competitive dialogue, which is addressed to five out of six candidates shortlisted for the first…
September 26th, 2013 The Executive Committee of Prefecture of Attica announced the start of the competitive dialogue for the construction of the new MWS/PPP unit in Grammatiko EDSNA unanimously approved during Tuesdays’ meeting the Invitation to the second phase of the tender, the competitive dialogue, to the five consortia that have qualified in the first…
September 18th,2013 Changes in pre selected consortia in the Attica-Grammatiko MSW PPP. Five consortia qualify to the second round After the verdict of the Council of State (S.T.E.) and the Association of Attica Prefecture (E.D.S.N.A.), changes occurred in the companies that qualify to the second round of the competition for the MSW unit in Grammatiko.
July 31st, 2013 Terna Energy announced as the preffered bidder (concession partner) for the Peloponnese Region municipal solid waste PPP tender The project involves the construction and management for 28 years of three waste treatment plants in Peloponnese. Its capacity was set at 150,000 tpa (guaranteed) and could reach 200,000 tons annually.
July 12th, 2013 Three Greek consortia submit binding offers for the waste PPP of the Peloponnese Region The bids were received upon conclusion of phase B (competitive dialogue) of the process. The selected private partner will undertake the design, financing, construction, maintenance and operation of the approx. 200.000 tpa facility for the integrated MSW management…
July 10th, 2013 Six Greek consortia shortlisted to participate in the next phase of the competition, the competitive dialogue procedure, for the waste processing plant in Epirus Region According to the Ministry of Development, if there are no appeals, the final phase of the competition will start immediately.
June 27th, 2013 The Executive Committee of EDSNA unanimously approved during the 26th of June meeting, the minutes of the tender, according to which 5 Greek consortia qualify to the next stage of the competition for the MSW unit in Fyli (West Attica) With this announcement, the first phase of the four competitions for the…
June 17th, 2013 Six Greek consortia qualified to the second phase of the competition for the municipal solid waste treatment plant unit in Keratea (SE Attica) and five for the waste processing unit in Liosia (West Attica) The first phase (pre-selection) of the competitions for the selection of the private partner for Keratea and Liosia MSW projects was…
May 30th, 2013 Candidates preselected for the Achaia waste management PPP tender The first phase of the competition for the selection of the private partner for the Patras MSW project was completed on May 30th, with all 6 consortia submitted initial interest qualifying. All participating consortia are Greek construction groups.
May 28th, 2013 Seven Greek consortia submitted initial expressions of interest for the Epirus Region MSW tender The first phase of the competition for the waste processing plant in Epirus Region was completed on May 28th, with 7 participating consortia.
May 15th, 2013 Fitch upgrades Greece’s credit rating to ‘B’- on May 14th 2013 Fitch upgrades Greece’s credit rating from CCC to B-. The firm emphasizes on the country’s clear progress in balancing the economy and reducing its’ deficit.
April 30th, 2013 Six companies qualified to the second phase of the competition for the municipal solid waste management unit in Grammatiko (NE Attika), to be implemented through PPP The announcement of the pre-selected parties for the other three PPP contests of Keratea, Liosia and Fyli is also expected in the following days, in order…
April 2nd, 2013 Six Greek consortia submitted initial expressions of interest for the Municipality of Patras (Achaia Prefecture) MSW tender The first phase of the competition for the waste processing plant in Municipality of Patras commenced on April 2nd, with 6 consortia submitting initial expressions of interest. The facility will process approximately 150,000 tons of municipal solid…
March 15th, 2013 Two new PPP waste management tenders were approved for the Municipality of Corfu and the Prefecture of Epirus The Inter-ministerial PPP Committee, which met on 13/3/2013 under the chairmanship of Minister of Development, Kostis Hatzidakis, approved two new PPP waste management projects for the Municipality of Corfu and the Prefecture of Epirus.
February 22nd 2013 New PPP Waste Management Project for a solid waste processing unit for the Municipality of Patras (Achaia Prefecture) The project concerns the financing construction, maintenance and operation of a processing unit for 150.000 tpa of MSW of the Achaia Prefecture.
February 7th, 2013 Seven Greek consortia submitted initial expressions of interest for the last two Attica MSW tenders for Liossia and Fyli in West Attica The first phase of the competition for the waste processing plant in Fyli was completed on February 6th, with 7 participating consortia.
January 25th, 2013 Eight Greek consortia submitted initial expressions of interest for the first two Attica MSW tenders for NE and SE Attica The participation was better than expected with new industrial and construction players entering this promising sector. However, no international waste management companies participated directly as principals in the consortia at this phase…
December 29th, 2012 EIB to provide project finance for the Greek waste management project in Western Macedonia Three binding offers were received for the Western Macedonia (DIADYMA) waste management PPP project. If no objections arise, the project is expected to be assigned to the preferred bidder by February 2013. The project involves building and operating an…
December 18th, 2012 S&P upgrades Greece’s rating by six notches to B- Standard & Poor’s announced on Tuesday that it is upgrading Greece’s credit rating by a considerable six notches to B- (Outlook Stable), taking it above the level it was before the bond buyback program was set in motion, though it remains in junk…
November 30th, 2012 New PPP Waste Management Project for a Waste Processing Unit in Western Attica The project concerns the financing construction, maintenance and operation of a waste processing unit for Western Attica (Fyli location).
November 30th,2012 New PPP Waste Management Project for A Waste Processing Unit in Ano Liossia, Western Attica The project concerns the financing construction, maintenance and operation of a waste processing unit for Western Attica.
November 27th, 2012 New PPP Waste Management Project for a waste processing unit in Grammatiko (NE Attica) The project concerns the financing construction, maintenance and operation of a waste processing unit for 127.500 tpa of MSW of the NE Attica region.
November 23rd, 2012 The Attica region’s only landfill is to reach maximum capacity in 22 months The head of the Attica prefecture, Giannis Sgouros announced that the Fyli landfill (the only landfill in Attica) will be filled to capacity in 22 months based on measurements made on 16/11/2012.
November 19th, 2012 The Executive Committee of EDSNA (the special body responsible for Attica prefecture), has approved the terms of the announcement of the Attica Waste Management competitions In the 19/11/2012 meeting of the BOD of EDSNA Giannis Sgouros informed board members that the EDSNA Executive Committee has approved the terms of the announcement of…
November 16th, 2012 Announcement of a new waste management facility in Central Greece.
November 9th, 2012 New temporary MBT facility approved in Peloponnese According to press reports, the regional council of Peloponese prefecture has approved the creation of a temporary MBT facility in Agios Konstadinos to process the waste of the municipality of Tripoli.
October 30th,2012 The first waste management PPP project in Western Macedonia reaches its final phase Τhe Special Secretariat for PPPs and the Solid Waste Management Company of Western Macedonia (DIADYMA SA) announced the six candidates that will proceed to Phase 2 of the tender process for the PPP Waste Management Project of Western Macedonia.
October 25th, 2012 The Special Secretariat for Public Private Partnerships adds four new MSW management facilities for Attica region in Greece The Special Secretariat for Public Private Partnerships in a meeting headed by Minister Kostis Hatzidakis, added four solid municipal waste management projects in Attica to its waste management portfolio.
October 6th, 2012 Invest in Greece at NY Forum Invest in Greece Agency Chairman Aris Syngros and CEO Stephanos Issaias are participating in the Greek Investment Forum in New York on October 9th-11th 2012, to promote investment opportunities in Greece to US companies and investors. The event is co-organised by the Athens Exchange and…
September 14th, 2012 Hellenic Ministry of Development & Competition updates on waste management projects The Hellenic Ministry of Development & Competition announced the following updates as regards the waste management projects
August 9th 2012 Interministerial committee for PPP reviews waste projects The Special Secretary for Public Private Partnerships Nikolaos Mantzoufas, presented progress made on major waste management projects and deadlines of binding tenders to development minister Kostis Chatzidakis.The Western Macedonia Project is scheduled to be the first to receive binding tenders with a deadline of year…
