MBCredit Solutions acquires four NPL portfolios for a total of approx. €665m

MBCredit Solutions
MBCredit Solutions has signed an agreement to acquire four portfolios of unsecured non-performing loans with a nominal value of €665.3m, consisting of more than 40.000 positions acquired on both the primary and secondary market: • The largest portfolio was acquired from CRC Bayview (on the secondary market), and consists of €425m (nominal value) of unsecured loans originated from mortgage contracts, current accounts and personal loans; • The second purchase of NPLs, of €217m (nominal value), was made over the secondary market from Balbec and involves unsecured corporate receivables originated from leasing contracts; • The third purchase involves a portfolio of NPLs with a nominal value of €12m acquired from Vivi Banca and Credito Salernitano. These are unsecured corporate and individual receivables deriving from leasing contracts and personal loans; • The final deal was the purchase from Consel of a portfolio of NPLs with a nominal value of €11.3m, consisting of unsecured receivables originated from consumer credit operations and personal loans. Following the completion of these transactions, the MBCredit Solutions proprietary portfolio now amounts to approx. €5bn (nominal valuee), with a total of 600.000 positions. For the legal side of the transaction MBCredit Solutions was assisted by Gattai, Minoli, Agostinelli & Partners, in particular by Emanuela Campari Bernacchi (Partner) and Salvatore Graziadei (Senior Associate). Milan, 14 September 2018
14 September 2018