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

MBCredit Solutions acquires two NPL portfolios for a total nominal amount of €335m

MBCredit Solutions, the Mediobanca Group company specialized in acquisition and management of non-performing loans, has recently signed two new agreements to acquire non-performing loans with leading Italian financial operators for an aggregate nominal amount of €335m. Firstly, in June 2020, MBCredit Solutions acquired a portfolio consisting of approx. 18,000 non-performing positions with a nominal value of €140m from one of the leading Italian credit consumer players. As part of the same deal MBCredit Solutions also signed a forward flow agreement for an additional €66m in non-performing loans, with sales that will take place in the months of September and December 2020. The acquisitions therefore involve a total nominal amount of €206m in receivables from personal loans, special purpose loans and revolving credit cards. Secondly, MBCredit Solutions has also acquired a portfolio of non-performing bank loans, deriving from personal loans, credit cards and overdrafts on current account, from a leading financial institution. The portfolio, which consists of approx. 16,000 positions, has a total nominal value of €129m. Angelo Piazza, MBCredit Solutions CEO, said: “The NPL market continues to be extremely dynamic, even during lockdown, when we were involved in numerous tenders to value different types of portfolio (private clients or SMEs, stock or forward flow), culminating in the two acquisitions we have made. Business continues at a fast pace, we are looking at other portfolios and expect the market to be very active in the last months of 2020 as well”. Piazza concluded: “Investors such as MBCredit Solutions are already, and will become even more so in the future, a significant point of reference for the banking system which has to deal with the expected increase in non-performing items due to the effects of COVID-19, and to manage the NPL ratio in accordance with the regulator’s requirements”. Matteo Gervasio, Investments and Development Director at MBCredit Solutions, added: “We’re very pleased at having completed these deals with two leading operators from whom we have never bought portfolios in the past. This consolidates MBCredit Solutions’ role in acquiring NPLs, and confirms our competitiveness in acquiring unsecured loans and closing forward flow deals, after the agreement reached with Deutsche Bank in December 2019”. Following this acquisition, the MBCredit Solutions proprietary portfolio has an aggregate nominal value of over €5,5bn.