We advised Piraeus Bank in the first ever transaction in the Greek market that involves both the securitisation of a portfolio of non-performing exposures under commercial real estate loans granted by Piraeus Bank to a group of companies, and a framework agreement on the restructuring and certain transitional arrangements in connection with the common exposures of the originator bank and of the purchaser of the portfolio, an entity belonging to the Fortress Group.
Piraeus Bank is the largest of the four Greek systemic banks and listed on the Athens Exchange.
Fortress Investment Group LLC is a leading, highly diversified global investment manager of assets on behalf of approximately 1,900 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.
Athanasia Tsene led the Bernitsas Law team.
