Press release

ILLIMITY REACHES €1 BILLION OF NPL PORTFOLIO AND ENTERS THE NPL FINANCING MARKET

Acquisition of a portfolio with Gross Book Value of €206 million
First NPL Financing deal of €50 million

Milan, 7 November 2018 – SPAXS S.p.A. informs that the liquidation procedure relating to the shares for which the withdrawal right was exercised has been completed with the placement with third parties of n. 600,000 ordinary shares. This procedure, pursuant to Article 2437-quater of the Italian Civil Code, concerned the shares that had remained unsubscribed following the offer of option and pre-emption rights to the Company’s shareholders, which had been completed, as per press release dated 5 October 2018, with the placement of 722,948 Shares.

Milan, 29 November 2018 illimity (the bank controlled by SPAXS S.p.A., now Banca Interprovinciale S.p.A.) continues its activity in the NPL sector, with a total portfolio of NPL loans reaching approximately Euro 1 billion in gross nominal value. SPAXS announces today a new acquisition by its subsidiary bank of a portfolio of corporate non-performing loans with a nominal value of Euro 206 million.

The portfolio was acquired on the primary market by UniCredit and consists of unsecured non-performing loans to Italian corporates, with an average ticket size of Euro 2.7 million. The investment is in line with the 2018-2023 strategic plan in terms of returns.

illimity also announces its first deal in the NPL Financing market. The bank has signed a financing contract to an affiliate of funds managed by Fortress Investment Group for an amount of Euro 50 million, guaranteed by a portfolio of non-performing corporate secured loans with a gross nominal value of Euro 1.2 billion.

Andrea Clamer, Head of the NPL Investment & Servicing Division, commented:

Two months after the Business Combination came into effect, the NPL Investment & Servicing Division has already acquired four portfolios, reaching a nominal value of approximately Euro 1 billion, and several portfolios are currently under valuation in a highly dynamic market. Today we have also announced our first deal in the NPL Financing business and several other transactions are already being assessed. With our specific expertise, which enables us to support investors also during the early stage of the purchasing process, we aim to become one of the key players in this market”.

For more information:

Investor Relations
Silvia Benzi
[email protected]
tel. +39 349 7846537
mob. +44 7741464948
www.spaxs.it

Press Office: Ad Hoc Communication Advisors
Mario Pellegatta +39 335.303624 [email protected]
Sara Balzarotti +39 335.1415584 [email protected]

Nomad: Banca IMI S.p.A.
[email protected]

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