The BPER group would like to announce that it has concluded two non-recourse transfer transactions of secured UTP portfolios, for a gross book value (GBV) of approximately € 370 million, in addition to a further sale in the process of finalization of approximately € 52 million, for a total of € 420 million.
The first of the two transactions saw the contribution by BPER Banca to the EFESTO Fund, active in the acquisition and management of UTP loans managed by Finanziaria Internazionale Investments SGR, with Italfondiario Spa, a company of the doValue group, as the exclusive servicer, of a loan portfolio for a gross book value (GBV) of approximately € 122 million, while the second one, finalized after a competitive process called "Progetto Winter" which included the participation of the main market operators, saw the sale, by BPER Banca and Banco di Sardegna, to Intrum and Deva Capital of a loan portfolio for a gross book value (GBV) of approximately € 248 million.
The third operation, currently being finalized, will see the transfer by BPER Banca of a secured UTP portfolio for a gross book value (GBV) of approximately € 52 million to the “Back2Bonis” fund managed by Prelios SGR.
The portfolios mainly consist of receivables secured by real estate guarantees relating to properties with a variety of uses with debtors located in various Italian regions.
The transactions, which will have a completely marginal impact on the Group's income statement, follow the sales of NPE for a GBV of approximately € 1.6 billion carried out last year and constitute another initiative of the BPER Group's derisking strategy which will contribute to a further improvement in credit quality.
As part of the transactions, the BPER Group availed itself of the support of the legal advisors Pedersoli of Milan, for the sale to the Efesto fund and Back2Bonis and Dentons of Milan for the Winter sale.