UniCredit Sells Non-Performing Loans Portfolio to Illimity, Guber Banca, Barclays
21 Juli 2020 - 3:45PM
Dow Jones News
By Jessica Sier
UniCredit SpA said Tuesday that it has agreed to sell a
portfolio of Italian small- and medium-enterprise non-performing
loans to Illimity SpA, Guber Banca and Barclays PLC.
The portfolio consists of Italian large-ticket exposures with a
total gross claim value of 702 million euros ($803.6 million).
Illimity has bought a portion with a claim value of EUR477
million and GAIA SPV--the securitization vehicle that has Guber
Banca and Barclays as noteholders --has bought around EUR225
million.
The agreement is already accounted for in UniCredit's
second-quarter financial statements.
Write to Jessica Sier at jessica.sier@wsj.com
(END) Dow Jones Newswires
July 21, 2020 09:30 ET (13:30 GMT)
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