BANCO BPM S.P.A. NEWS RELEASE
Banco BPM sells 641 million euro of Bad loans without recourse Disposal of €1.7bn of Bad loans since the presentation of the Business PlanMilan, 20 January 2017 - Under the Group's Business Plan, envisaging the disposal of Bad loans for a total amount of 8 billion euro, Banco BPM finalized the sale without recourse of a portfolio of unsecured Bad loans.
With today's deal, total loans disposed since the beginning of 2016 add up to roughly 1.7 billion euro.
The portfolio under disposal includes about 1,800 positions for a total nominal value of approx. 641 million euro, with no negative P&L effect.
The block sale was finalized pursuant to Law 130/1999 and for Banco BPM Group it entails the actual and definitive transfer of the credit risks associated with the sold loans.
The portfolio has been purchased by Marte SPV, a vehicle owned by Hoist Finance, a leading financial institution in the pan-European NPL market, listed on NASDAQ Stockholm.
In executing the deal the seller was assisted by KPMG Corporate Finance as financial advisor and by Studio BonelliErede as legal advisor. The purchaser was assisted by PwC Advisory S.p.A. as financial advisor and by Studio Legale RCC in as legal advisor.
Contacts:
Investor RelationsRoberto Peronaglio
+39 02.77.00.2057
investor.relations@bancobpmspa.it
CommunicationsMatteo Cidda
+39 02.77.00.7438
matteo.cidda@bancobpmspa.it
Press OfficeMonica Provini
+39 02.77.00.3515
monica.provini@bancobpmspa.it
Banco BPM S.p.A. published this content on 20 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 January 2017 17:54:02 UTC.
Original documenthttp://www.bancobpmspa.it/media/2017_01_20-Banco-BPM-sells-641-million-of-unsecured-Bad-loans.pdf
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