Unicredit announces the sale of two portfolios, Raphael and Ticino, relating to non-performing loans in the small and medium-sized business segment. The sale of these portfolios is part of UniCredit's current commitment aimed at the disposal of non-performing loans and the development of the Italian secondary market for NPLs, in particular as regards the corporate segment.
The first portfolio – Raphael – contains loans with a gross book value of around €100 million, mainly secured by mortgages, and will be assigned to a securitization vehicle financed by a fund managed by Cerberus Capital Management LP
The second portfolio – Ticino – instead contains residual credit exposures deriving from terminated leasing contracts and has a gross book value of approximately 150 million euro, unsecured. It will be transferred to a securitization vehicle whose main investor is another US fund. The impact will be recorded in the Unicredit balance sheet for the fourth quarter of 2015.
