Non-recourse non-performing loans sold by UniCredit Credit Management Bank (UCCMB), UniCredit's bank specializing in the management of anomalous loans, to a fund managed by the European investment company Anacap Financial Partners LLP amount to approximately 700 million euro.
The sale took place in December. Almost all of the receivables assigned, approximately 1000 positions, hedged consistently with the type of underlying receivables, are of an insolvency nature and are part of a portfolio originated on average over 10 years ago.
UniCredit Credit Management Bank, rated triple strong in 2013 by Standard & Poor's, manages a portfolio of just under 1 million positions for around €53 billion in contractual credit.
