Following the passage of a new law allowing for securitization in the Greek financial sector last summer, the first transaction originated by a non-state entity is about to hit the market, paving the way for what some bankers say could develop into a promising market.
Aspis Bank is planning a €250 million residential mortgage-backed securities issue to be placed with European investors. ABN Amro and the National Bank of Greece are joint lead managers. Previously, only the Greek state could undertake such transactions.
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