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Eurobank agrees to sell sour mortgage loan notes to Pimco unit

Eurobank agrees to sell sour mortgage loan notes to Pimco unit
FILE PHOTO: A woman makes a transaction at an ATM as another waits in line outside a Eurobank branch in Athens April 24, 2014. REUTERS/Alkis Konstantinidis -
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Alkis Konstantinidis(Reuters)
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ATHENS, (Reuters) – Eurobank said on Thursday it agreed to sell 95% of mezzanine and junior notes of 2.0 billion euro (1.79 billion pounds) securitised pool of non-performing mortgage loans to Celidoria, an entity owned by funds managed by U.S. fund group PIMCO.

Greece’ third largest lender by assets said it has also agreed to start exclusive talks with Bravo Strategies III, a Celidoria affiliate on another pool of securitised non-performing loans, code named project Cairo.

(Reporting by George Georgiopoulos)

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