UniCredit sells FINO Npl exposure to below 20%
UniCredit sells FINO Npl exposure to below 20%Attualità
UniCredit announced yesterday in London that it has sold down its holding of FINO Project bad loans portfolio to below 20% after agreeing a sale with Italian insurer Generali and signing a binding agreement for selling another stake of the portfolio to King Street Capital Management and Fortress (see here the press release) The sale of bad […]
Banca Popolare di Bari ready to sell new bad loans securitization notes
Banca Popolare di Bari ready to sell new bad loans securitization notesAttualità
Banca Popolare di Bari group announced yesterday it has structured its second securitization of  bad loans which will benefit of the special public guarantee (Gacs) as for its senior tranches (see here the press release). More in detail Popolare di Bari bank and its subsidiary Cassa di Risparmio di Orvieto sold a 319.8 million euros GBV bad loans portfolio to a spv which issued three ABS tranches: an 80.9 million […]
Lindorff-Intrum Justitia conquers Italy’s independent Npl servicer CFA in a 200 mln euros deal
Lindorff-Intrum Justitia conquers Italy’s independent Npl servicer CFA in a 200 mln euros dealAttualità
Gli Npl gestiti da CAF Lindorff-Intrum Justitia, the European leading provider of credit management services, announced yesterday the acquisition of CAF spa, one of Italy’s major independent non performing loans servicers (see here the press release). CAF has been controlled by private equity firm Lone Star since 2015 and Intrum has also acquired a 370 million euros GBV […]
Unicredit’s first FINO bad loans securtisation obtains ratings by Moody’s and Dbrs. Class A stands for 650 mln euros
Unicredit’s first FINO bad loans securtisation obtains ratings by Moody’s and Dbrs. Class A stands for 650 mln eurosAttualità
Unicredit’s asset quality as for Sept. 30th 2017 Moody’s and Dbrs assigned yesterday a rating to the first transaction backed by non-performing loans originated by Unicredit part of the so-called FINO Project consisting in a total gross book value of 17.7 billion euros (see here the press release and a previous post by BeBeez). This first deal is […]
NouyAttualità
Danièle Nouy “Let me stress that this addendum, once adopted, falls within the supervisory mandate and powers of the ECB”, Daniéle Nouy, Chair of the Supervisory Board of the ECB told in her hearing at the European Parliament’s Ecnomic and Monetary Afffairs Committee yesterday, answering to a document by the legal service of the EU Parliament itself  which states […]
BeBeez
Nouy states that the NPL’s addendum falls with ECB’s mandate. But ECB will improve the draft
Nouy states that the NPL’s addendum falls with ECB’s mandate. But ECB will improve the draftAttualità
Danièle Nouy “Let me stress that this addendum, once adopted, falls within the supervisory mandate and powers of the ECB”, Daniéle Nouy, Chair of the Supervisory Board of the ECB, told in her hearing at the European Parliament’s Ecnomic and Monetary Afffairs Committee yesterday, answering to a document by the legal service of the EU Parliament itself  which […]
Turnaround funds ready to deal with 9 bn euros unlikely-to-pay loans from the two Veneto’s distressed banks
Turnaround funds ready to deal with 9 bn euros unlikely-to-pay loans from the two Veneto’s distressed banksAttualità
Marina Natale A special operative Decree by the Treasury Ministry in Italy is expected by the end of November in order to transfer to non performing loans management veichle Società Gestione Attività (Sga) a total of 17.7 billion euros of non performing exposures which were on the books of Banca Popolare di Vicenza and Veneto Banca at the moment […]
Ecb proposes more severe guidance on non performing exposures
Ecb proposes more severe guidance on non performing exposuresAttualità
It was a bad day yesterday for Italian banks at the Milan Stock Exchange as their stock prices dropped by 2.3% on average versus a -1.2% of the European banks index. More in detail Banco Bpm lost a 5.3%, Ubi Banca a 3.8% and Bper almost a 3%. This was after the Ecb published for consultation an addendum to its […]
Banco Bpm to launch securitization of 3 bn euro NPLs with public guarantee next year
Banco Bpm to launch securitization of 3 bn euro NPLs with public guarantee next yearAttualità
Italy’s bank Banco Bpm started due diligence on a 3 billion euros NPLs portfolio in view of a securitization covered by public guarantee (Gacs),  MF Milano Finanza yesterday wrote, adding that the portfolio will  include a major stake of secured loans as it was the case with the sale of the Project Rainbow portfolio to Algebris fund which was valued about 40% of […]