Sector developments and company hires

Romanian NPE deal sealed
National Bank of Greece (NBG) has entered into an agreement with Bain Capital Credit for the disposal of a Romanian-risk corporate non-performing loan portfolio. Dubbed Project Danube, the transaction has a total GBV of circa €174m (€102m of allocated collateral value).

The deal is being implemented in the context of NBG’s NPE deleveraging strategy and in accordance with the operational targets submitted to the Single Supervisory Mechanism. The transaction has a neutral capital impact on the bank.

Closing is subject to standard conditions, including the approval of the Competition Council of Romania, as well as the consent of the Hellenic Financial Stability Fund.

In other news…

North America
Shore Capital Partners has appointed Justin Bentley as head of capital markets, responsible for the financing activities of all new investments and portfolio companies, as well as developing and managing banking and intermediary relationships. Bentley joins Shore with 16 years of leveraged finance experience, most recently as a director at Vista Credit Partners. Prior to that, he was a director at Madison Capital Funding, responsible for all aspects of direct lending investments and building the firm’s CLO platform.

Paulenier Sims has joined Two Harbors Investment Corp to lead its investor relations department. Sims joins from JPMorgan, where she was executive director, leading the investor relations function for the corporate and investment bank. Previously, Sims held a senior position in the investor relations department at CIT Group.