Press release

ILLIMITY PURCHASES NPL PORTFOLIOS WITH GROSS BOOK VALUE OF €175 MILLION AND ENTERS THE NPL SINGLE-NAME MARKET

Milan, 08 January 2019 – SPAXS S.p.A. announces that its subsidiary bank – the future illimity, now Banca Interprovinciale S.p.A. – in December 2018 finalised the acquisition of non-performing loans portfolios (NPL) with an aggregated gross nominal value (“gross book value”) of Euro 175 million. Following these transactions, the total nominal value of non-performing loans held by the Bank reaches approximately Euro 1.15 billion.

Some Euro 150 million of said NPL transactions is related to NPL portfolios acquired from several small and medium sized banks and consists for approximately 85% of its nominal value of unsecured positions mainly to corporates, with an average ticket size of Euro 100,000.

The bank also completed its first transaction in the NPL Single-Name segment for a nominal value of approximately Euro 25 million. This transaction consists of five NPL positions towards corporate debtors, guaranteed by industrial and commercial assets located in Lombardy. The deal was signed with a banking institution which operates primarily in Northern Italy.

Andrea Clamer, Head of the NPL Division of the Bank, commented: “We have built a strong team of highly-qualified professionals. We see attractive business opportunities in all the areas where the NPL Division operates: direct investment in NPL portfolios and single-names, secured and unsecured, NPL Financing and servicing activities, with a focus on the NPL Corporate segment. Along with the acquisitions of several NPL portfolios and the financing transaction finalised in the last few months of 2018, the single-name NPL deal marks the beginning of our operations in this promising segment, which offers several investment opportunities and is still under-penetrated.

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 sara[email protected]

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


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