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npl-reo Market News: Spanish Real Estate Intelligence

EY: 81% of the leasing impaired loans come from real estate
07 June, Bebeez At the end of 2018, leasing companies reported impaired loans for 19.3 billion euro, 12.9 billion euro of which were represented by NPLs, while UTPs were 6.1 billion and past-due credits 200 million. The figures show an improvement on the overall, although real estate credits constitute 81% of the leasing impaired loans. Leasing impaired loans represent 19.8% of the total exposure of real estate leasing (54 billion euro). Credits with amounts lower than 2.5 million euro constitute 48% of the total. Source: Bebeez Translator: Cristina Ambrosi  
 
The EU imposes to Mps an advisor to sell UTPs for 7 billion euro to SGA. The Lima and Papa2 operations are about to close
12 June, Bebeez The European Antitrust Authority has set limits to the transfer of UTPs for 7 billion euro from Mps to Sga since both parts have the Ministry of Economy as the main shareholder. The Authority imposed to Mps to appoint an advisor to supervise the operation to make sure it will be carried at market values. Oliver Wyman will likely be the advisor. Meanwhile, the Papa2 and Lima operations are about to conclude. The former concerns UTPs backed by real estate for a gross value of 500 million euro. The buyer might be Cerberus. The latter is constituted by five or single-name holdings for 130 million euro and might go to Bank of America Merrill Lynch. Source: Bebeez Translator: Cristina Ambrosi