{"id":822,"date":"2021-09-21T13:54:19","date_gmt":"2021-09-21T10:54:19","guid":{"rendered":"http:\/\/tmede.gr\/english\/?p=822"},"modified":"2021-09-21T14:04:47","modified_gmt":"2021-09-21T11:04:47","slug":"attica-bank-completion-of-omega-securitization","status":"publish","type":"post","link":"https:\/\/tmede.gr\/english\/2021\/09\/21\/attica-bank-completion-of-omega-securitization\/","title":{"rendered":"Attica Bank &#8211; Completion of Omega Securitization"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_3_4 3_4 fusion-three-fourth fusion-column-first\" style=\"--awb-bg-size:cover;width:75%;width:calc(75% - ( ( 4% ) * 0.75 ) );margin-right: 4%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-title title fusion-title-1 sep-underline sep-solid fusion-title-text fusion-title-size-one\" style=\"--awb-sep-color:#007ec6;\"><h1 class=\"fusion-title-heading title-heading-left\" style=\"margin:0;\"><h3>Attica Bank &#8211; Completion of Omega Securitization<\/h3><\/h1><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;margin-bottom:30px;width:100%;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-text fusion-text-1\"><p>Attica Bank S.A. (\u201cAttica Bank\u201d) informs its investors that it has entered into legally binding documentation in relation to the securitization of the \u201cOmega\u201d Portfolio of Non-Performing Loans with a gross book value of EUR 1.285bln and the subsequent issuance of the following Notes:<\/p>\n<ul>\n<li>Class A Omega Senior Note for an amount of EUR 630mln<\/li>\n<li>Class B Omega Mezzanine Note for an amount of EUR 70mln<\/li>\n<li>Class J Omega Junior Note for an amount of EUR 585mln<\/li>\n<\/ul>\n<p>Upon the completion of the aforementioned transaction, Attica Bank will retain the entire amount of the Class A Senior Notes, while 95% of the Class B Mezzanine Notes and 95% of the Class J Junior Notes will be sold to funds nominated by Ellington Solutions which is a prominent firm affiliated with investors with extensive track record in asset-back securities.<\/p>\n<p>The transaction marks the completion of the previous \u201cArtemis\u201d securitization, since the remaining Artemis Non-Performing Loan Portfolio (EUR 985mln) combined with an additional amount of EUR 330mln of Non-Performing Loans have been migrated in the Omega Portfolio. Upon approval of the supervisory authority, Attica Bank will proceed with de-consolidation and de-recognition of the Omega Portfolio and further enhance its balance sheet.<\/p>\n<p>Following the Asset Quality Review (AQR) conducted on the Bank (2015), Attica Bank has proceeded with securitization transactions with a gross book value of EUR 3bln in total, thus completing the cleaning of its balance sheet from Non-Performing Loans. More specifically, and subject to the successful completion of \u201cAstir 1\u201d and \u201cAstir 2\u201d securitization transactions, Attica Bank implements its strategic goal of definitively addressing the issue of non-performing loans.<\/p>\n<p>Moreover, following the settlement of the aforementioned transaction, Attica Bank will proceed towards obtaining the minimum required credit rating on the Class A Senior Note, in order to include the securities in the State Guarantee Program for senior bonds of securitized loans, \u201cHERCULES II\u201d. The inclusion of the Omega Senior Notes into the Hercules State Guarantee Program is part of Attica Bank\u2019s Management strategy towards increasing its capital adequacy at sufficient levels in order to support its loan portfolio growth and further expand its activities.<\/p>\n<p>StormHarbour Securities LLP acted as the Omega transaction Arranger and Lead Bookrunner, while Orrick Herrington &amp; Sutcliffe LLP acted as English Law legal advisor and Sardelas Petsa Law Firm as Greek Law legal advisor to Attica Bank.<\/p>\n<p style=\"text-align: center;\">ATTICA BANK S.A.<\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_4 1_4 fusion-one-fourth fusion-column-last\" style=\"--awb-bg-size:cover;width:25%;width:calc(25% - ( ( 4% ) * 0.25 ) );\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-title title fusion-title-2 sep-underline sep-solid fusion-title-text fusion-title-size-one\" style=\"--awb-sep-color:#007ec6;\"><h1 class=\"fusion-title-heading title-heading-left\" style=\"margin:0;\"><h4><strong>Files<\/strong><\/h4><\/h1><\/div><ul style=\"--awb-line-height:23.8px;--awb-icon-width:23.8px;--awb-icon-height:23.8px;--awb-icon-margin:9.8px;--awb-content-margin:33.6px;--awb-circlecolor:#283b49;--awb-circle-yes-font-size:12.32px;\" class=\"fusion-checklist fusion-checklist-1 fusion-checklist-default type-icons\"><li class=\"fusion-li-item\" style=\"\"><span class=\"icon-wrapper circle-yes\"><i class=\"fusion-li-icon fa-file fas\" aria-hidden=\"true\"><\/i><\/span><div class=\"fusion-li-item-content\">\n<p><a href=\"https:\/\/tmede.gr\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/20-09-2021-ENG_Press-Release_Completion-of-Omega-Securitization.pdf\">Press Release_Completion of Omega Securitization<\/a><\/p>\n<\/div><\/li><\/ul><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;margin-bottom:30px;width:100%;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-widget-area awb-widget-area-element fusion-widget-area-1 fusion-content-widget-area\" style=\"--awb-title-color:#000000;--awb-padding:0px 0px 0px 0px;\">\n\t\t<div id=\"recent-posts-3\" class=\"widget widget_recent_entries\">\n\t\t<div class=\"heading\"><h4 class=\"widget-title\">Recent Posts<\/h4><\/div>\n\t\t<ul>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/tmede.gr\/english\/2026\/04\/22\/%ce%bdext-gen-digital-services-tmede-portfolio-services-konstantinos-makedos-tmede-portfolio-represents-a-qualitative-leap-in-productivity-and-a-substantial-improvement-in-our-members-daily-t\/\">\u039dext-Gen Digital Services &#8211; TMEDE Portfolio Services &#8211; Konstantinos Makedos: &#8220;TMEDE Portfolio represents a qualitative leap in productivity and a substantial improvement in our members&#8217; daily transactions.&#8221;<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/tmede.gr\/english\/2026\/04\/14\/p-o-mi-t-e-d-y-event-at-the-tmede-building-engineers-in-the-public-sector-from-signature-to-disciplinary-liability\/\">P.O.MI.T.E.D.Y. Event at the TMEDE Building: \u201cEngineers in the Public Sector: From Signature to Disciplinary Liability\u201d<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/tmede.gr\/english\/2026\/03\/02\/financing-agreement-renewal-hellenic-development-bank-and-epwcf-tmede-extend-the-hdb-epwcf-guarantee-fund-through-2026\/\">Financing Agreement Renewal: Hellenic Development Bank and EPWCF\u2013TMEDE Extend the &#8220;HDB\u2013EPWCF Guarantee Fund&#8221; Through 2026<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li>\n\t\t\t\t\t<a href=\"https:\/\/tmede.gr\/english\/2025\/12\/15\/kyriakos-pierrakakis-money-is-not-simply-available-it-is-created-growth-emerges-from-sound-strategies\/\">Kyriakos Pierrakakis: \u201cMoney is not simply available; it is created. Growth emerges from sound strategies.\u201d<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t<\/ul>\n\n\t\t<\/div><div id=\"categories-3\" class=\"widget widget_categories\"><div class=\"heading\"><h4 class=\"widget-title\">Categories<\/h4><\/div>\n\t\t\t<ul>\n\t\t\t\t\t<li class=\"cat-item cat-item-9\"><a href=\"https:\/\/tmede.gr\/english\/category\/digital-services\/\">Digital Services (5)<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-8\"><a href=\"https:\/\/tmede.gr\/english\/category\/news\/\">News (69)<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-4\"><a href=\"https:\/\/tmede.gr\/english\/category\/newsletter\/\">Newsletter (2)<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-5\"><a href=\"https:\/\/tmede.gr\/english\/category\/presidents-articles-speeches\/\">President&#039;s Articles &amp; Speeches (7)<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-7\"><a href=\"https:\/\/tmede.gr\/english\/category\/press-releases\/\">Press Releases (47)<\/a>\n<\/li>\n\t<li class=\"cat-item cat-item-10\"><a href=\"https:\/\/tmede.gr\/english\/category\/tmede-regulation\/\">TMEDE Regulation (1)<\/a>\n<\/li>\n\t\t\t<\/ul>\n\n\t\t\t<\/div><div class=\"fusion-additional-widget-content\"><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/posts\/822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/comments?post=822"}],"version-history":[{"count":5,"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/posts\/822\/revisions"}],"predecessor-version":[{"id":828,"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/posts\/822\/revisions\/828"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/media\/439"}],"wp:attachment":[{"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/media?parent=822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/categories?post=822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tmede.gr\/english\/wp-json\/wp\/v2\/tags?post=822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}