Case studies

ERSTE BANK – Portfolio Loan Sale

  • Exito Partners was the exclusive advisor to ERSTE GROUP BANK AG (“ERSTE BANK”) for the sale of 2 Ukrainian portfolios, corporate and commercial real estate NPLs, which included the above large-cap corporate loans
  • Exito Partners successfully sold the entire €335 million (€240 million Corporate and €95 million CRE) of loans, with no residual exposure left
  • Exito Partners still remains the only advisor to having sold a portfolio of this size and difficulty in Ukraine, which was then followed by 3 similar portfolios with a notional value of $800 million NPLs sold by Exito Partners in Ukraine
  • The firm’s strategy focused on detailed credit analysis and accurate pricing of the loans in order to ensure optimal investor engagement
  • This approach was extremely successful for the client, resulting in 22 NDAs, 14 indicative bids and 12 binding bids across the 2 portfolios within a highly competitive sale process
  • Exito Partners delivered a sale price that was 15% higher than the client’s expectations and 20% higher than that achieved by several investment banks’ trading desks

EAA – Structured Sale Process

  • ERSTE ABWICKLUNGANSTALT (“EAA”) is tasked with the disposal of €150 billion of assets transferred from the former West LB
  • The firm was exclusively mandated by EAA to sell a portfolio of 3,725 UK buy to let mortgage loans, the servicing platform and equity within 2 securitisation SPVs with a combined notional value of €770 million
  • Advisory to the EAA on the best strategy for the sale of both the shares and assets of the servicer, including its employees
  • Preparation of all marketing materials (teaser, information memorandum, virtual data room) along with engaging third parties and managing all lengthy and complex investor discussions
  • Approached over 100 potential investors, received 19 indicative bids, invited 5 investors to a final round and maintained competitive tension amongst all investors until the final bid deadline
  • The firm’s approach and strategy resulted in the successful execution and closing of the trade, at a sale price that exceeded the client’s expectations