05 July, Il Sole 24 Ore
About fifty credit unions were involved in an NPL transfer of significant dimensions. Several of the credit unions concerned are among the thirty adhering to the constitution of Cassa Centrale Banca. The gbv of the portfolio sold amounts to 1,397 million. The buyers are Barclays, Varde Partners ad Guber Banca. Centrale Credit & Real Estate Solutions (Ccres), a company of Gruppo Cassa Centrale Banca spa, and Banca Imi (Intesa San Paolo Group) were respectively the advisor and arranger for the operation, assisting the banks in the identification of the portfolios to sell as well as the in the sale of these.
The portfolio includes over 9,000 holdings, 39% secured and 61% unsecured. The loans are localised mainly in the north-east and north-west of Italy. “Thanks to our 27 years’ experience, we’ve acquired solid skills in assessing and managing bad loans. This is indeed the first acquisition of NPL based on an analysis method for large part digital”, comments Francesco Guarnieri, Guber Ceo. “We’re happy to work together with Barclays and Guber in this operation. When we invested in Guber in 2017, we knew that the company would have had a crucial role in our investment strategy” adds Francesco Milone of Varde Partners.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi