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npl-reo Market News: Spanish Real Estate Intelligence

CreVal completed two NPL operations for 372 mln € with MBCredit Solutions and Amco as buyers
07 August, Bebeez Credito Valtellinese (CreVal) sold impaired loans for a total amount of 372 million euro to MBCredit Solutions (Mediobanca group) and Amco. The portfolio sold to MBCredit Solutions amounts to 102 million euro and concerns unsecured corporate NPLs. The second portfolio was bought by Amco for 270 million euro, and it mostly consists of corporate loans, 60% of which are NPLs and 40% UTPs. Source: Bebeez Translator: Cristina Ambrosi
Unicredit sold NPLs for a total of 702 million to Illimity, Guber Banca and Barclays
22 July, Bebeez Unicredit sold NPLs for 477 million to Illimity and 255 million to Guber Banca and Barclays Bank, for a total of 702 million euro. The operation was carried out through the special purpose vehicle Gaia and exclusively concerns unsecured loans to Italian SMEs under the Italian law. Meanwhile, Illimity issued senior financing for 11 million euro. The funding is guaranteed by an NPL portfolio mostly composed of corporate loans. Source: Bebeez Translator: Cristina Ambrosi
PWC: new non-performing exposures between 60-100 million in the next 18 months on the Italian market
24 June, Blasting News According to its latest report on the Italian NPE market and the impact of Coronavirus, PWC forecasts new non-performing exposures for a value comprised between 60-100 million euro, primarily consisting of UTPs, due to the rise of defaults and bankruptcies in the next 18 months. It’s also likely that the pandemic will affect the real estate market and that property prices will decline, at least in the short-term. Source: Blasting News Translator: Cristina Ambrosi