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Credit Agricole has put for sale NPLs for 6 billion

23 February, City Wire

While most banks are speeding up the NPL portfolios disposal, the secondary market of bad loans has started picking up as the most recent dossier circulating in the financial sector shows.

The investment bank Credit Agricole has put for sale the loans included in the four Luxemburgish special purpose vehicles for a gross total amount of about 6 billion euro. The portfolios are mostly unsecured and concern loans issued for Italian customers and then securitised several years ago. In the last few weeks, the advisor Kpmg has launched the transfer process and, while the binding offers haven’t come yet, some investment funds are evaluating the dossier. Considered the predominant unsecured nature of the stock, it’s reasonable to expect that the maximum net value won’t exceed a couple of hundreds of millions.

Source: City Wire

Translator: Cristina Ambrosi

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