Skip to:
  1. Home
  2. Press & Media
  3. Press Releases
  4. 2018
  5. UniCredit announces the sale 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 of an Italian Small Medium Enterprise unsecured non performing loans portfolio

UniCredit announces today an agreement with a securitization vehicle managed by J-Invest S.p.A. ("J-Invest") and with a securitization vehicle managed by Banca Interprovinciale S.p.A. ("Illimity") in relation to the disposal of a portfolio of Italian Small and Medium Enterprise non performing unsecured loans, on a non-recourse basis (pro-soluto).

 

The portfolio consists entirely of large tickets Italian exposures with a total gross claim value ("Claim") of approximately € 590 million. J-Invest has bought a portion of the portfolio with a Claim Value of approximately € 384 million and Illimity has bought the portion with a Claim Value of approximately € 206 million.

 

The impact is expected to be reflected in the fourth quarter 2018 financial statements.

 

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

 

 

Milan, November 29, 2018

 

 

 

 

Enquiries

 

Investor Relations

Tel +39 02 88621028

e mail: investorrelations@unicredit.eu

 

Media Relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu