11 January, Bebeez
Best Capital Italy srl, the Italian subsidiary of the Polish group Best SA, specialised in investments and NPLs management, listed on the Warsaw Stock Exchange, has bought NPLs for about 128 million euro originated from 15 cooperative credit banks, from Bcc CreditoConsumo, and from the guarantee fund of the cooperative credit depositors. The portfolio is totally composed of unsecured credits of retail customers and SMEs for 4 thousand positions in total.
The operation has been promoted and coordinated in all its phases by Iccrea Banca, that acted as arranger and advisor. Best Capital Italy, guided in Italy by Lucio Ranaudo e Andrea Vitelli, has been assisted by its master servicer Zenith Service and has been supported in the legal matters by the legal firm Raynaud. Iccrea Banca has been assisted in the legal matters by the team specialised in structured finance Gitti and Partners.
Last September, Best Capital Italy bought on the secondary market from the fund Palamon Capital bad loans originated from Italy for 170 million euro. The portfolio was a mix of consumer credit coming from various Italian institutions. Whereas last July, the Polish company carried out a first operation in Italy to test the market concerning an NPL portfolio of 4.88 million euro originated from Mediocredito Italiano (Intesa Sanpaolo group).
Translator: Cristina Ambrosi