TGS Baltic advised bank Snoras in the sale of "Cayman" loan portfolio to Volandia Reserve Limited

01.05.2016 TGS Baltic advised bank Snoras in the sale of "Cayman" loan portfolio to Volandia Reserve Limited

TGS Baltic advised bank Snoras in the sale of so-called "Cayman" loan portfolio to Volandia Reserve Limited.

The portfolio, which has been sold was comprised of 15 corporate and 9 residential loans, with the total book value of EUR 139,8 million, which were either issued to Russian borrowers or secured with collateral located in Russia. Majority of the loans were problematic with borrowers being bankrupt, ongoing litigation in Russia, etc.

TGS Baltic advised Snoras in all legal matters related to the transaction, as well as overall complex project management. The firm leaded the process on behalf of the client and coordinated the work of employees of the bank. Our previous experience in complex loan transfer transactions enabled us to efficiently handle the process from its initiation, preparation of marketing materials, and contacts with potential investors to negotiations, drafting of transaction documents and closing of the transaction.