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npl-reo Market News: Spanish Real Estate Intelligence

Unicredit to prepare a State-guaranteed securitisation for 2 mld €
05 October, Bebeez Unicredit, together with doValue in the role of servicer, is currently working on a State-guaranteed securitisation for the value of 2 billion € concerning NPLs deriving from leasing. The operation is expected to be completed by the end of 2020. This is the first leasing transaction with State guarantee, as leasing non-performing holdings have always been closed so far by remarketing the repossessed assets. Source: Bebeez Translator: Cristina Ambrosi
illimity Bank completed two senior financing operations for 12 mln
28 September, La Stampa illimity Bank conducted two senior financing operations for a total value of 12 million €. The first loan amounted to 4 million € and was granted to Borgosesia. The underlying consists of corporate credits (30 million €) backed by residential assets, mostly in Lombardy. The second loan was issued to Zetland Capital and amounted to 8 million €. The underlying is constituted by corporate credits for a gross value of approximately 20 million backed by residential assets in Veneto. Source: La Stampa Translator: Cristina Ambrosi
Intesa Sanpaolo to sell its leasing division Provis
18 September, Milano Finanza Intesa Sanpaolo announced the sale of Provis, which manages credits and assets originating from leasing. Mediobanca, the advisor for Intesa, collected the non-binding offers for the business division, whose value is estimated around 1 bln €.  Prelios, in partnership with Bain and Illimity, are among the candidates, as well as DoValue. Meanwhile, Intesa Sanpaolo is also working on the merger with Ubi Banca, which will be completed in 2021. Source: Milano Finanza Translator: Cristina Ambrosi