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Banca Popolare di Sondrio to sell NPLs for 1.5 billion euro
24 October, Bebeez
Banca Popolare di Sondrio has put for sale NPLs for 1.5 billion, after the ECB didn’t authorise the acquisition by the bank of Cassa di Cento, demanding instead to prioritise the de-risking process by reducing the NPL stock.
The operation will be likely carried out through securitisation with the State guarantee and Société Générale as the arranger. Banca Popolare di Sondrio invited Credito Fondiario, doValue, Prelios and Cerved to make an offer by the end of this week. The senior notes will be bought by the bank, while the mezzanine and the junior ones will be put on the market.
Source: Bebeez
Translator: Cristina Ambrosi