AnaCap two portfolios of Italian bad loans for a total gross 225 million euros gross value. Special servicer for the two portfolios has been mandated Phoenix Asset Management (see here the press release).
The first portfolio is made by 93 positions sold by Volksbank and has a 141 million euros gross value, of which 131 millions are secured by real estate assets located in Northern Italy.
The second bad loans portfolio has an 84 million euros gross value and is made by 713 positions, for the major part secured by real estate assets. This portfolio has been sold by Banca di Pisa e Fornacette (see here the press release). For the deal the bank was advised by IC Satellite – Luigi Furore & Associati. The deal is to be seen in the framework of a wider derisking plan of Banca di Pisa e Fornacette which is selling a total of 148 million euros of bad loans, the bank’s managing director Gianluca Marini said.
After these two deals, Phoenix, founder by Steve Lennon, is managing a total of more than 10 billion euros non performing exposures spread among 12 portfolios of bad loans and UTPs.