05 August, Finance Community
Following a tender to acquire NPLs amounting to €900 million originated from MPS (Banca Montepaschi di Siena), Intrum got €365 million (primarily unsecured loans), Amco bought non-performing loans for €208 million, and Illimity acquired corporate loans for €340 million. The operation will be completed by Q4 2022.
Source: Finance Community
Translator: Cristina Ambrosi
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
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.
Source: Bebeez
Translator: Cristina Ambrosi
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
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
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
13 August, Milano Finanza
Mps pursues its de-risking process with the recent completion of four operations regarding impaired loans for 340 million euro. One deal concerns secured and unsecured loans for a total of 137 million, while the other three operations are for UTPs mainly secured, amounting to 202 million, originating from Banca Mps and Mps Capital Services portfolios.
Source: Milano Finanza
Translator: Cristina Ambrosi
26 July, Finanza Online
Illimity Bank has recently announced to have completed the acquisition of three separate NPL portfolios for a total GBV of 340 million euro.
The first portfolio was acquired from UniCredit; it amounts to 240 million euro and consists of unsecured corporate credits. The second portfolio was bought for 80 million euro, and it mainly consists of leasing credits. The third operation has a nominal value of 23 million euro and is composed of corporate loans backed by logistics assets.
Source: Finanza Online
Translator: Cristina Ambrosi
04 July, Milano Finanza
Unicredit, through its subsidiaries Unicredit Banja Luka and Unicredit Bank Mostar, announced the agreement with B2 Kapital for the transfer without recourse of secured and unsecured loans amounting in total to 24.5 million euro. The loans originate from Bosnian SMEs.
Source: Milano Finanza
Translator: Cristina Ambrosi
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