12:23 PM EDT, 04/04/2024 (MT Newswires) -- Morgan Stanley ( MS ) is managing the sale of about 4.8 billion euros ($5.2 billion) of loans from a group of 13 failed Greek banks, Bloomberg reported Thursday, citing people familiar with the transaction.

The transaction, comprising three portfolios of mostly nonperforming loans from the failed banks, was mandated by PQH. The sale is expected to be completed in H1, the people said, Bloomberg reported.

PQH was formed in 2016 and appointed by the Bank of Greece as the sole liquidator for all credit and financial institutions under special liquidation in Greece, according to its website.

Representatives from Morgan Stanley ( MS ) and the Bank of Greece declined to comment, while PQH did not immediately respond to a request for comment, Bloomberg said.

Morgan Stanley ( MS ) declined to comment to MT Newswires. PQH and the Bank of Greece did not immediately respond to requests for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 93.65, Change: +0.65, Percent Change: +0.70