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Blackstone and Deutsche Bank-fronted consortiums compete with Lone Star on €3.6bn Project Neptune

Banca Comerciala Romana (BCR), Romania’s largest bank and part of the Erste Group, has selected two consortiums and one solo private equity investor to progress to the second round the largest-ever Romanian commercial real estate and corporate non-performing loan portfolio.
By James Wallace
June 11, 2015 | 7:30 P.M.

The CRE and corporate NPL, dubbed Project Neptune, has unpaid loan balance of 2.7bn but gross liabilities, including unpaid accrued interest payments, penalties and swap liabilities, of 3.55bn.

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