Illimity Bank, the bank led by Corrado Passera e born from the merger between SPAXS and Banca Interprovinciale, finalized two new transactions in the Npl Senior Financing segment, for a total amount of approximately 85 million euro. The company announced it. The loans were finalized "with a leading investment fund and with a company specialized in the purchase of NPL portfolios".
The loan agreements are guaranteed by loan portfolios, mainly corporate secured non-performing classified as non-performing or Unlikely-To-Pay, for a gross nominal value of over 600 million euro. With these two new operations, the value of the loans disbursed by Illimity to Npl operators rises to 135 million euro. These loans are guaranteed by Npl portfolios for a total gross nominal value of approximately 2 billion euro.
Andrea Clamer, head of Illimity's Npl Investment & Servicing division, said: “We continue to be active in all the businesses in which we operate with our Illimity division. The market for loans connected to the purchase of Npl portfolios is proving to be more dynamic than assumed. Illimity – he added – is establishing itself as an active player in this business segment and effective partner for investors who want to optimize returns on Npl purchase transactions completed in the past or yet to be completed. We have already finalized three important senior financing transactions and numerous other opportunities are being evaluated".
