21 September, Reuters
Spaxs has announced the conclusion through its affiliated bank (the future Illimity, today Banca Interprovinciale) the acquisition of non-performing loans for a nominal value of 155 million.
As the memo reads, the portfolio was bought from Cassa di Risparmio di Volterra, and it mainly includes corporate credits backed by commercial and industrial properties. The average value of the holdings is around 250,000 euro.
“Our first NPL operation is aligned with our business plan for what concerns characteristics and expected returns. In addition to operations on portfolios, we’ll also be active in the acquisition of single-name corporate loans, secured and unsecured, in NPL management, and in the funding to other investors operating in the market”, as Andrea Clamer, head of the NPL division, stated in the memo.
Translator: Cristina Ambrosi