Attica Bank - Announcement of 16/09/2020

Attica Bank S.A. informs its investors that the restructuring of the Bonds of the Artemis Project was completed today, in accordance with the new supervisory framework and furthermore, the increase of the cash receipts received by the Bank, the improvement of the bonds and the management efficiency optimization.

In particular, with this new structure the Senior Note amounts to a nominal value of € 487 million, a Mezzanine position of a nominal value of €38 million is created, a new position A2 of a nominal value of €61 million is created and the nominal value of the Junior Note amounts to € 806 million. The impact of this transaction on the financial position and the financial results of the Bank will be reflected in the interim condensed Financial Statements of September 30, 2020.

It is noted that within the framework of the Artemis Project, Attica Bank has implemented the first securitization of non-performing loan portfolio, and transferred to an investor, one of the bonds (Junior Note) that resulted from this securitization. The management of this portfolio has been assigned to the company under the L. 4354/2015 and under the name "THEA ARTEMIS - LOANS AND CREDIT CLAIM MANAGEMENT SOCIETE ANONYME", in which the Bank holds a percentage of 20% of its share capital.

Upon the successful completion of this beneficial transaction for the bond holders, the Bank and its shareholders, Attica Bank managed to shield further its first non-performing securitization of its exposures.