doValue Sells €1.7B Loan Portfolios to Boost Greek Economy
doValue is facilitating a significant financial move in Greece. It's selling two loan portfolios, Alexandria and Giza, worth a combined €1.7 billion. This transaction could see €40 billion of loans return to the stock market today** and reduce public debt.
doValue's subsidiary, doAdvice, is managing the sale. The Alexandria portfolio, valued at €1.5 billion, includes loans from 2,700 large and medium-sized enterprises. The Giza portfolio, worth around €200 million, consists of mortgage loans. These portfolios were originally securitized through Hercules and are now being serviced by doValue.
Investors like Fortress, Apollo, and Alcentra have shown interest in these portfolios. The sale is expected to close by the end of the year. The National Bank of Greece estimates that this move could see €40 billion of loans return to the stock market today in the coming years. This return could offer opportunities for new credit expansion and strengthen the Greek economy.
The sale of the Alexandria and Giza loan portfolios by doValue is a strategic move. It will allow banks to repay government guarantees, reducing public debt. The return of these loans to the stock market today could stimulate economic growth through new credit expansion.
