Luzzatti – a consortium owned by 19 banks, mostly less significant – started the beauty contest for the non-recourse assignment of the first packages of shareholder banks’ impaired loans on the new consortium platform set up in the first part of the year.
The total gross book value of the NPEs to be sold, with closing expected by the end of the year, amounts to almost € 50 million of GBV and includes single name secured (Utp and Npl) and portfolios of unsecured positions backed by state guarantees of 6 consortium member banks.
In the fourth quarter of the year, the new platform will also support the competitive process of placing mezzanine and junior notes of the new multi-originator NPL securitization being structured by Luzzatti.
