MBCredit Solutions acquires €450m in NPLs from UniCredit

MBCredit Solutions
MBCredit Solutions has today signed an agreement with UniCredit to acquire a portfolio of non-performing loans.
27 November 2017

MBCredit Solutions acquires €450m in NPLs from UniCredit

MBCredit Solutions has today signed an agreement with UniCredit to acquire a portfolio of non-performing loans deriving mostly from unsecured contracts with clients in the small and medium-sized business segments.

The portfolio consists exclusively of receivables deriving from loan contracts governed by Italian law for an aggregate exposure net of writedowns totalling €450m.

With this transaction MBCredit Solutions has further accelerated the growth in size of its NPE portfolio under management, confirming its leadership position in the unsecured segment.

Francesco Barelli Terrizzi, Chief Executive Officer of MBCredit Solutions, said: “Coming just a few weeks after the last transaction, this agreement confirms MBCredit Solutions’ capability in creating value from receivables of different asset classes with different counterparties, individuals or companies: an essential prerequisite to operating as a credible and reliable partner for Italian banks”.

As a result of the transactions finalized, the portfolio of non-performing loans owned by MBCredit Solutions now consists of some 550,000 positions and has a total value of approx. €4bn.

 

Milan, 27 November 2017

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