We are proud to have advised Attica Bank in connection with its first synthetic securitisation of a €220 million performing SME and Large Corporate portfolio.
This transaction, which marks the first synthetic securitisation via a direct issuance of Credit Linked Notes (CLN) by a Greek bank, enabled Attica Bank to achieve Significant Risk Transfer (SRT) and reduce its Risk-Weighted Assets by approximately €150 million, through the sale of the Mezzanine Tranche of the CLN to an entity advised by Davidson Kempner Capital Management LP.
Congratulations to Effie Papoutsi, heading our banking and finance team and Dr. George Naskaris, head of our tax department for their work on this innovative deal, and to all the parties involved, including KPMG as financial advisor, Clifford Chance as international legal counsel.
We extend our congratulations to Attica Bank for this successful outcome. This milestone transaction underscores our firm’s commitment to supporting innovative solutions and contributing to the growth and stability of the Greek banking sector.
