Koutalidis Law Firm advised Waterwheel Capital Management on this deal for the purchase of 95% of class B and class C notes issued as part of the Securitisation Solar Portfolio. Waterwheel Capital Management entered into a binding agreement with the four originating banks: Alpha Bank, Eurobank National Bank of Greece, and Piraeus Bank.
Waterwheel Capital Management is an alternative investment firm based in the US, founded in 2017. It invests to achieve absolute returns through specific investment vehicles. They focus on strategies and capitalise on opportunities in Greece using a value-investing approach.
Solar Portfolio is a portfolio of non-performing corporate and SME exposures with an estimated value of EUR 1.2 billion. This is the first securitisation of its kind to be undertaken in Greece, involving four banks.
Koutalidis advised Waterwheel at all stages of the bid process and the negotiation of the contract documentation with the four bank.