(Visited 49 times, 1 visits today)
(Visited 49 times, 1 visits today)
  • Transaction / Assets
    NPL portfolio
  • Seller
    Spaxs
  • Buyer
    Istituto Finanziario del Mezzogiorno
  • € MM
    263

Illimity bought a second NPL portfolio

28 September, Bebeez

Spaxs announced yesterday the acquisition through its subsidiary (currently named Banca Interprovincial, but it will be soon renamed Illimity) of an NPL portfolio for a nominal value of 263 million euro on the secondary market.

The portfolio was sold by Istituto Finanziario del Mezzogiorno spa, and it originates from banks. The portfolio is composed of corporate credits, 30% of which represented by secured loans and with returns aligned with those forecasted by the bank in its business plan.

The operation follows the other one announced on 21st September concerning the acquisition of a portfolio for a nominal value of 155 million. In this way, the NPLs held by bank amount in total to 418 million euro.

Source: Bebeez

Translator: Cristina Ambrosi

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