December 16, 2020

European Structure Finance 2020 Review and Outlook

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.”