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UniCredit announces it has reached an agreement on the sale of two Italian SME non performing exposure portfolios

UniCredit announces the sale of two portfolios, Raphael and Ticino, relating to NPL SME (Small & Medium Enterprises) exposures. The sale of these portfolios is part of UniCredit's ongoing efforts to sell non-performing exposures and develop the secondary market for NPL loans in Italy, specifically as it relates to the SME segment.

The first portfolio - Raphael - consists of loans with a gross book value of approximately €100 million mostly secured and will be sold to a securitisation vehicle financed by a fund managed by Cerberus Capital Management L.P.

The second portfolio - Ticino - consists of Leasing residual claims with a gross book value of approximately €150 million unsecured and will be sold to a securitization vehicle whose main investor is a US fund


The impact will be reflected in UniCredit's 2015-Q4 balance sheet.


Milan, December 17, 2015


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