30 November, Reuters
Thanks to the acquisition of NPLs for 206 million, the total NPL portfolio held by Illimity, the bank owned by Spax, reached a nominal value of nearly one billion euro.
As the memo reads, the portfolio was acquired on the primary market from UniCredit, and it’s entirely composed of unsecured non-performing loans of Italian companies with each holding amounting to 2.7 million on average.
Moreover, Illimity has also announced its first operation in the Npl Financing segment. The bank issued funding to an affiliated company to some funds managed by Fortress Investment Group for a total amount of about 50 million. The funding is guaranteed by a portfolio on secured corporate non-performing loans for a gross nominal value of 1.2 billion.
Translator: Cristina Ambrosi