Skip to:
  1. Home
  2. Press & Media
  3. Press Releases - Price sensitive
  4. 2020
  5. UniCredit announces the sale to Banca Ifis and Guber Banca with Barclays Bank plc of an Italian Small Medium Enterprise unsecured non-performing loans portfolio
Share this event on:
  • LinkedIn

Recomend this page

Thank you, we sent your recommendation to the desired recipient.

Sorry, this functionality is not available right now.
Please try with this link. Thank you.

UniCredit announces the sale to Banca Ifis and Guber Banca with Barclays Bank plc of an Italian Small Medium Enterprise unsecured non-performing loans portfolio

UniCredit announces today an agreement with Ifis NPL (Banca Ifis Group) and GAIA SPV (GAIA), a securitisation vehicle with noteholders Guber Banca S.p.A. ("Guber") and Barclays Bank PLC (Barclays), managed by Guber. The agreement concerns the disposal of a Small and Medium Enterprise non-performing unsecured loans portfolio, on a non-recourse basis (pro-soluto).

 

The portfolio consists entirely of Italian exposures with a total claim value ("Claim Value") of approximately € 840 million.

 

Ifis NPL has bought a portion of the portfolio with a Claim Value of approximately € 486 million and GAIA has bought approximately € 354 million.

 

The impact is already accounted in the second quarter 2020 financial statements.

 

The sale is part of UniCredit's on-going strategy to reduce non-performing exposures.

 

 

Milan, 22 July 2020

 

 

Enquiries

 

Investor Relations

e mail: investorrelations@unicredit.eu

 

Media Relations

e mail: mediarelations@unicredit.eu