CMS Hungary has advised Balbec Capital and Momentum Credit Zrt, a Hungarian joint venture owned by Balbec Capital and the APS Group, on the purchase of MKB Bank Nyrt’s non-performing retail mortgage loan portfolio, secured mostly by residential mortgages. MKB Bank was advised by HBK Partners on the transaction.
The transaction, with a face value of over EUR 75 million, consisted of a two-phase auction sale bidding process organized among international and Hungarian institutional players on the NPL market, including banks, investment banks, and loan management firms.
The CMS Hungary team consisted of Partner Erika Papp, Senior Counsel Eszter Torok, and Junior Associate Zsolt Beregi.
The HBK Partners team consisted of Partner Marton Kovacs and Junior Associate Mate Vinglman.