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.
Translator: Cristina Ambrosi