Balbec Capital LP acquired a 5.2 mln € NPL portfolio from BCC Centropadana

04 February, Monitor Immobiliare

Balbec Capital LP acquired from BCC Centropadana an NPL portfolio amounting to 5.2 million € GBV. The portfolio is mainly composed of secured loans backed by real estate and managed by My Credit Spa, whereas Banca Finint has been appointed as master servicer. My Credit will operate locally through a network of over 1100 brokers throughout the country.

Source: Monitor Immobiliare

Translator: Cristina Ambrosi

DoValue launched with Finint Efesto Credit Fund for 450 mln €

03 November, Credit Village

Finint Investments SGR, in partnership with doValue subsidiary Italfondiario, launched Efesto Credit Fund, which holds assets for 450 million €. The fund will invest in UTPs, facilitating their deconsolidation as well as the restructuring process of the SMEs involved. Its portfolio is currently composed of 44% secured loans and 56% unsecured loans.

Source: Credit Village

Translator: Cristina Ambrosi

Unicredit sold NPL portfolio to Illimity ofr 692 mln €

22 October, Bebeez

Unicredit sold an NPL portfolio named New York to Illimity for a nominal value of 692 million €. The portfolio includes secured loans relating to Italian SMEs.

Source: Bebeez

Translator: Cristina Ambrosi

Banco Bpm to sell two real estate portfolios

9 October, Il Sole 24 Ore

Banco Bpm is currently working at two operations. The first one is named Project Brera and concerns a UTP portfolio for a gross value of about 400-450 million €. The portfolio consists of credits towards Statuto Group and includes 11 assets located in Milan, Rome, Naples and Liverpool. Bain Capital, Apollo, Dea Capital Real Estate, King Street and Fortress are among the candidates.

The other operation is Project Mistral concerning three properties owned by Bpm. Two of them are located in Milan and one in Rome.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Davis & Morgan plans investments for 50 million in 2020

13 February, Milano Finanza

The merchant bank Davis & Morgan seeks to consolidate its position in the asset-backed NPL market with planned investments for 50 million euro. The bank mainly focuses on residential, commercial assets and offices, mostly in Milan, Rome and luxury tourist destinations.

Source: Milano Finanza

Translator: Cristina Ambrosi

Iccrea sold NPLs for 230.5 million to Banca Ifis

07 January, Cesena Today

Iccrea sold on behalf of about 40 banks of the group an NPL portfolio amounting to 230.5 million euro to Banca Ifis. The portfolio is composed of 6,800 holdings consisting of unsecured loans for 80% and secured residential and commercial credits for the remainder.

Source: Cesena Today

Translator: Cristina Ambrosi

Banca Valsabbina sold an NPL portfolio to Balbec for 19.6 million euro

02 January, Blue Rating

Banca Valsabbina entered an agreement for the sale of an NPL portfolio to Balbec for the gross nominal amount of 19.6 million euro. The portfolio is entirely composed of secured loans deriving from mortgages regulated by the Italian Law.

Source: Blue Rating

Translator: Cristina Ambrosi

Mps sold NPLs to Illimity

30 December, Blue Rating

Mps continues its de-risking process with three operations for a total amount of 1.8 billion euro. One transaction concerns NPLs, mostly unsecured, for about 1.6 billion sold to Illimity Bank. The other two operations concern secured corporate holdings classified as UTP and amounting in total to 200 million euro.

With these operations, the Mps Npe ratio decreased to 12.5%, reaching two years earlier the 12.9% target set in the restructuring plan.

Source: Blue Rating

Translator: Cristina Ambrosi

Unicredit appointed doValue to manage the biggest residential NPL project in Europe

02 December, Milano Finanza

doValue reached an agreement with UniCredit concerning the exclusive management of a non-performing residential mortgage portfolio for a GBV of 6.1 billion euro. The agreement implies the securitisation of the non-performing mortgage loans backed by assets included in the Prisma project, the biggest NPL project in Europe.

The credits are already under the management of doValue, as per the agreement entered with UniCredit in 2015. This new agreement, however, appoints doValue as the special servicer for the securitisation and as the master servicer for the portfolio, strengthening in this way the leadership of doValue in the Southern European servicing market.

Source: Milano Finanza

Translator: Cristina Ambrosi

Unicredit sold NPL portfolio for 6 billion at 21.8% of the GBV

22 October, Credit Village

Unicredit transferred with the State Guarantee NPLs for a total of 6 billion euro at 21.8% of the portfolios’ gross book value to the special purpose vehicle Prisma SPV S.r.l. DoValue has been appointed for the collection, while Italfondiario will operate as the master servicer.

The portfolio is composed for 64% by secured loans and 36% by unsecured loans, mainly originating from retail customers. The secured loans are mostly backed by residential assets. The portfolio is highly granular, for the first ten holdings represent 0.4% of the total GBV.

Source: Credit Village

Translator: Cristina Ambrosi