UniCredit announces the sale of two portfolios, Raphael and Ticino, relating to NPL SME (Small & Medium Enterprises) exposures. The sale of these portfolios is part of UniCredit's ongoing efforts to sell non-performing exposures and develop the secondary market for NPL loans in Italy, specifically as it relates to the SME segment.
The first portfolio - Raphael - consists of loans with a gross book value of approximately €100 million mostly secured and will be sold to a securitisation vehicle financed by a fund managed by Cerberus Capital Management L.P.
The second portfolio - Ticino - consists of Leasing residual claims with a gross book value of approximately €150 million unsecured and will be sold to a securitization vehicle whose main investor is a US fund
The impact will be reflected in UniCredit's 2015-Q4 balance sheet.
Milan, December 17, 2015