Piraeus Bank

Piraeus Bank, Greece's largest lender by assets, on Wednesday opened books for a 10-year Tier 2 bond issue, aiming to raise about 500 million euros ($546 million), a source close to the deal said.
"Piraeus Bank is opening books for a 10-year issue, aiming at about 500 million euros," the source told Reuters.
Pricing is seen in the low 6 percent range, the source added.

Greek lender Piraeus Bank, the country's largest lender by assets, said on Monday it plans to securitize roughly 7 billion euros of non-performing exposures (NPEs) in 2020.

Greek banks have been working to reduce a pile of sour credit of more than 70 billion euros ($77.32 billion), the legacy of a financial crisis that shrank the country's economy by a quarter.

Lamda Development has reached an agreement with Eurobank and Piraeus Bank for loans adding up to 1.1 billion euros.

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, it said on Friday.

The deal was agreed at a price of 71.1 million euros, meaning PQH will receive 7 percent of the outstanding principal.

The agreement between Piraeus Bank and Swedish group Intrum is one of the biggest foreign investments and the biggest Swedish investment in Greece (410 million euros).

The completion of the agreement between property development group Haragionis and investment company Fortress Group is close, Kathimerini understands, with Fortress set to acquire the Greek company's debt.

Greek lender Piraeus Bank's partnership with Swedish loan servicer Intrum to manage bad loans will create the biggest independent loan servicer in the Greek market, executives at both firms said on Friday.

Piraeus Bank has concluded a deal with Sweden's Intrum to create a company to service its bad-loan portfolio, it said on Wednesday.
Bad loans are the biggest challenge facing Greek banks, the legacy of a crippling debt crisis which shrank the economy and sent hundreds of thousands into unemployment, constricting the ability to repay debt.

Properties worth hundreds of millions of euros are expected to come on the market in the next few months as banks and the investments funds that have acquired portfolios of loans secured against property assets are picking up the pace in this process to make the most of improving conditions and institutional investors' appetites for more and larger properties, so as to secure higher prices.

The Greek bourse had another mixed day on Tuesday, with the market awaiting feedback from Brussels regarding the draft budget Athens has submitted, but in the end all indexes closed in the black thanks to a number of stocks posting firm gains.