Cepal Holdings (“Cepal”) announced the completion of the sale of a corporate reperforming portfolio of loan receivables to Optima Bank S.A. (“Optima Bank”). AXIA Ventures Group (“AXIA”) acted as Exclusive Financial Advisor to Cepal making this transaction the first ever sale of corporate reperforming loan receivables in the secondary market in Greece.
Cepal is a leading servicer in the local market with more than €28bn AuM and extensive experience in servicing both secured and unsecured portfolios. Cepal is the first company in Greece to have received a servicing license by the Bank of Greece in 2016.
As part of its engagement, AXIA assessed the regulatory factors affecting reperforming loan transactions and performed a thorough financial analysis on the perimeter of the exposures in order to determine the borrowers’ compliance with their contractual debt obligations, post debt or corporate restructuring, and demonstration of a significant financial recovery. The final perimeter consisted of reperforming loan receivables to large Corporates and Small/Medium-sized Enterprises (SMEs) active in distinct industries.
Mr. Alexandros Argyros, Managing Director & Head of Investment Banking of AXIA Ventures Group stated: “We are particularly proud to have advised Cepal in this first-of-its-kind transaction. This success will not only pave the way for the development of a functioning secondary market for reperforming corporate & SME loans, but it also exemplifies how the Greek economy – with the commitment and expertise of servicers such as Cepal – supports the business community via the integration of such loans into the banking system. Congratulations are due to the entire AXIA team for seeing this through as well as Cepal for having the foresight and willingness to create this market”.