2020-11-27 Italian Banks and NPL Market – English Update

Davidson Kemper Capital Management is trying to sell Prelios and has appointed JP Morgan as advisor in the sale process according a rumor published by Italian newspaper IlMessaggero. Potential buyers are said to be Kryalos sgr, doValue and Dea Capital and so far according preliminary analysis offered prices should not match seller’s expectations of a price around 1 billion euro. Read the Article.

Iccrea Banca successfully completed the fourth securitization of non performing loans (NPL), worth 2.4 billion euro. The total portfolio includes more than 9,600 debtors and 17,000 positions. This is the most important multi – originator securitization operation that will be assisted by the State guarantee scheme (GACS). Read the article.

Listen to Entering Italian NPL Market Podcast

The ECB Vice President, Luis de Guindos, speaking by videoconference at the workshop “The scenario of the economy and finance” organized by The European House-Ambrosetti said that the first feature of the current economic outlook and those that the ECB will present at the meeting on December 10 is “a great uncertainty” and that “one thing is to have a vaccine and another is to run a mass vaccination process” . Read the article.

P &G SGR, has launched a new fund dedicated to unlikely to pay positions, with advice from the law firm Dentons. The “P&G UTP Management” fund started operations following the contribution of 19.3 million euro of UTP loans worth 35 million euro, originating from small and medium-sized banks. Read the article

EthicalFin NPL S.r.l, a company specializing in the valuation and management of NPL portfolios, and Lawyer Francesco Torre , a member of Studio Legale Gentili & Partners, have established a new legal firm named Studio Legale Torre EF Società tra Avvocati S.r.l.. Read the article.

Federico Ghizzoni, Executive Vice President of Clessidra sgr illustrated the company’s project to enter the distressed factoring segment, i.e. the advance payment of invoices to companies under financial strain. The rationale of the operation lies in the exploitation of potential synergies with the activity of Clessidra Restructuring Fund. Read the article.

Credit Village’s Monitoring center on NPE Market released an update on transactions in the first nine months of the year, recording a decrease of just over 11% in the number of transactions and 15.8% in value. By the end of the year, considering the pipeline transactions and the positive closing of the MPS-Amco Jumbo deal, total volumes are estimated at around €27-28 billion. Article in Italian.

Check previous Eglish Updates

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Are you interested in Italian banks and NPL/UTP market? Ask for a briefing  (in person or via conference call) by sending me a private message. I am also available for consulting projects on Distressed Assets pricing and Portfolio Management.

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Pubblicato da Massimo Famularo

Investment Manager and Blogger Focus on Distressed Assets and Non Performing Loans Interested in Politics, Economics,

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