Sga: binding offer for the securitisation of NPLs for 314 million from Banca del Fucino
21 December, Reuters
Sga, the company of the Ministry of Treasury managing bad loans amounting to 20 billion, presented a binding offer to Banca del Fucino to organise a securitisation of an NPL portfolio for a nominal value of 314 million.
The news was disclosed through a memo specifying that the portfolio is composed for 211 million by NPLs and by UTPs and past-due for the remaining 103 million.
Sga will act as a master and special servicer for the securitisation by subscribing the equity tranche.
The completion of the operation is scheduled for the first quarter of 2019, considering that the merger of Banca del Fucino and Igea Banca will happen in the same period.
Source: Reuters
Translator: Cristina Ambrosi