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Koutalidis Advises Waterwheel Capital Management on Solar Portfolio Securitization

Koutalidis Advises Waterwheel Capital Management on Solar Portfolio Securitization

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Koutalidis has advised Florida-based alternative investment firm Waterwheel Capital Management on the bidding process and the binding agreement with Alpha Bank, Eurobank, the National Bank of Greece, and Piraeus Bank to purchase 95% of the Class B and Class C notes issued in the securitization of the Solar portfolio.

The Solar portfolio consists of common, predominantly non-performing exposures of corporate and SME loans with an on-balance sheet value of approximately EUR 1.2 billion.

According to the firm, the securitization involves four originating banks and is the first of its kind in Greece. It will be subjected to the Hellenic Asset Protection Scheme, with the Class A notes benefiting from the Hellenic Republic’s guarantee.

Waterwheel Capital Management describes itself as an alternative investment firm "focused on strategies capitalizing on opportunities in Greece using a fundamental value investing approach, with a specific emphasis on potential event-driven opportunities."

The Koutalidis team was led by Partner Effie Papoutsi.

Koutalidis did not respond to our inquiry on the matter.

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