(Visited 143 times, 1 visits today)
(Visited 143 times, 1 visits today)
  • Transaction / Assets
    NPL
  • Seller
    Banca Etruria, Carichieti, Cariferrara and, indeed, Banca Marche
  • Buyer
    Rev
  • € MM
    10.3 billion

Banca Marche transfers one billion Npls. The Rev’s “Rossini” Project

 

Rossini Project. Such it has been called with the surname of the great composer from the Marche, born in Pesaro, the dossier concerning the transfer of about one billion of non performing loans, namely bad loans, that Rev is putting for sale. Rev is the bad bank that received 10.3 billion impaired loans coming from Banca Etruria, Carichieti, Cariferrara and, indeed, Banca Marche.

The process, with the consulting of Kpmg, is now in full swing these days with the arrival of 30 manifestations of interest, to confirm the “hunger” of the investors for operations, especially when the portfolio is secured. Among the players, there are indeed financial groups as Starwood, Blackstone, Cerberus, Algebris, which has just finalized the operation regarding the npls of BancoBpm, as well as Fonspa ( a subsidiary of the Elliott Fund) and Fortress. These last two players are particularly active in these months and they have also been involved together with Atlante in the Mps bad loans operation. The name of the dossier, Rossini Project, launched by Rev, has its own meaning: 65% of the bad loans belong to the former Banca Marche. The remaining comes from Etruria, Carichieti and Cariferrara. Besides, the one billion package is at its 40% secured by residential real estate properties. The nonbinding offers are expected for the 30th June, with the closure by the end of summer.

(Visited 143 times, 1 visits today)

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