Delighted to share our MD’s views on Greek NPLs in 2021, in Capital Structure Limited’s European Structure Finance 2020 Review and Outlook.
“In future projects, pricing will be more a function of the fundamentals: resolution efficiency, timeframes, and of course the value and liquidity ofunderlying assets. Unforeseen circumstances such as COVID-19 render contingent pricing and earnout mechanisms all the more important infuture securitisations … As we enter 2021, the pandemic is expected to create up to €10bn of new NPLs, which will be addressed byfurther securitisations (guaranteed by HAPS II) as well as the AMC (bad bank) proposed by the Bank of Greece, currently under consultation.”