• Contacts
Tuesday, 30 May 2023
  • it Italiano
  • en English
Newsletter
BeBeez
  • .
  • Home
  • RISK CAPITAL
    • Angels & Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • CREDIT & DEBT
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • ANALYSIS & COLUMNS
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • TOOLS
    • Sectors & Companies
    • Events
    • BeBeez Academy
    • BeBeez Podcast
  • BEBEEZ PREMIUM
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • Login
Abbonati
  • Home
  • RISK CAPITAL
    • Angels & Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • CREDIT & DEBT
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • ANALYSIS & COLUMNS
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • TOOLS
    • Sectors & Companies
    • Events
    • BeBeez Academy
    • BeBeez Podcast
  • BEBEEZ PREMIUM
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • Login
Abbonati
BeBeez
Home Crisis & Relaunch Bad loans and other NPLs

Credito Fondiario and Elliotts conquer Banco Bpm’s bad loans and NPE managing platform

bebeezbybebeez
11 December 2018
in Bad loans and other NPLs
Share on FacebookShare on Twitter

Schermata 2018-12-11 alle 06.04.14Banco Bpm agreed to sell to  Credito Fondiario and Elliott Management a bad loans portfolio of a size in a range between 7 and 7.8 billion euros GVB and a 70% stake in its non-performing exposures management platform (see here the press release).

The final closing of the deal is subject to SUperivion Authorities authorization and is expected to happen by the first half of 2019. Credito Fondiario was advised for the deal by  Goldman Sachs International (financial advisor), PwC Deals FS (industrial advisor) and Gatti Pavesi Bianchi and  Gianni, Origoni, Grippo, Cappelli & Partners law firms.

The consortium finally won an auction that attracted a lot of interest from all major players in the market since last Spring when Banco Bpm’s ceo Giuseppe Castagna swas still evaluating whether selling just a smaller bad loans portfolio for about 3.5 billion euros GBV or both a portfolio and part of all the NPE management platform (see here a previous post by BeBeez). As the bank itself confirmed in a Strategic Update published some days ago, bidders having reached the last step of the auction were alsoother two consortia or doBank-Fortress-Illimity and Prelios-CRC.

More in detail, the so-called ACE Project will include two steps:
1)  the acquisition by Elliott of ABS junior and mezzanine notes coming from the securitization of a 7-7.8 bn euros GBV bad loans portfolio while senior notes will be structured in order to be ready for the pubilc guarantee (GACS); Credito Fondiario will act as master servicer and corporate servicer of the securitization;
2) a joint venture between Credito Fondiario and Banco Bpm aimed at the creation of a bad loan servicing platform and the signing of a ten years’ servicing agreement;  Credito Fondiario will also buy a 70% stake of the platform and Banco Bpm will retain a 30% stake; the platform will manage as a servicer the bad loans portfolio that Elliot will have bought, the residual NPE stock on Banco Bpm’s books and the 80% of all new NPE flows for the next 10 years.

Schermata 2018-12-11 alle 06.04.31

In order to finance all those activities, Credito Fondiario will complete a new capital increase, subscribed by its major shareholder Elliot, by the other shareholders and by the management.

At the end of last October Credito Fondiario announced that Elliott Management would have subscribed a 65 million euros capital increase  as already agreed last May between Elliot, Tages Holding and the other shareholders (see here a previous post by BeBeez). Following that capital increase, Elliot raised its stake from  40% to 69.48%  but ot was stated already that Elliot might have raised its stake in the next future till 81.63%. 

Tags: bad loansBanco BpmCredito FondiarioElliottNPEnpl

Iscriviti alle nostre Newsletter

Iscriviti alle newsletter di BeBeez

Iscriviti
Previous Post

Kedrion’s bonds drop under 85 cent whole rumors about new shareholders are back

Next Post

Italian fintech startups raised 256 mln euros in 2018, BeBeez Private Data says

Related Posts

NPEs down to €35bn for top 6 Italian banks at end of 2022. A year earlier they were €47.5 bn
Insight Views EN

NPEs down to €35bn for top 6 Italian banks at end of 2022. A year earlier they were €47.5 bn

4 April 2023
Italy’s private debt, distressed assets and NPEs weekly round up. News from Risanamento, Apeiron, Eurovita, Sampdoria, FC Inter, Società Autostrade Alto Adriatico, Repower, Anthilia Capital Partners, and more
Crisis & Relaunch

Italy’s private debt, distressed assets and NPEs weekly round up. News from Risanamento, Apeiron, Eurovita, Sampdoria, FC Inter, Società Autostrade Alto Adriatico, Repower, Anthilia Capital Partners, and more

30 March 2023
Italy’s private debt, corporate finance, distressed assets and NPE weekly roundup. News from Centotrenta Servicing, Sampdoria, Eurovita, Gibus and more
Bad loans and other NPLs

Italy’s private debt, corporate finance, distressed assets and NPE weekly roundup. News from Centotrenta Servicing, Sampdoria, Eurovita, Gibus and more

23 March 2023
Italy’s private debt, corporate finance, distressed assets and NPE weekly roundup. News from AMCO, Capza, Italian Ministry of Tourism, Collier, Ecopol, Aciam, Baia Silvella and more
Private Debt

Italy’s private debt, corporate finance, distressed assets and NPE weekly roundup. News from AMCO, Capza, Italian Ministry of Tourism, Collier, Ecopol, Aciam, Baia Silvella and more

16 March 2023
Bad loans and other NPLs

Italy’s distressed assets, NPLs and private debt weekly roundup. News from EcoEridania, Sampdoria, doValue, Giacomini and more

2 March 2023
Italy’s distressed assets, NPLs and private debt weekly roundup. News from Monte dei Paschi, Intrum Italy,  BPER, CDP, Planet Farms Holding, Luigi Luzzatti and more
Private Debt

Italy’s distressed assets, NPLs and private debt weekly roundup. News from Monte dei Paschi, Intrum Italy, BPER, CDP, Planet Farms Holding, Luigi Luzzatti and more

5 January 2023
  • Report
  • Events
  • BeBeez Podcast

Report

Italy’s real estate weekly roundup. News from Edizione Holding, Kryalos, Blackstone, and more

Italy’s real estate weekly roundup. News from Edizione Holding, Kryalos, Blackstone, and more

30 May 2023
Venture capital down and super concentrated in Italy in 2022. Only 36 rounds raised 2.2 bn euros out of a total of 358 rounds and 2.57 bn (up from 2.9 bn in 2021). BeBeez Report.

Venture capital down and super concentrated in Italy in 2022. Only 36 rounds raised 2.2 bn euros out of a total of 358 rounds and 2.57 bn (up from 2.9 bn in 2021). BeBeez Report.

25 January 2023
While venture capital activity in the third quarter of the year collapsed globally, Italy was an exception, with as many as 80 rounds raised for a total value of more than €1 billion. Q3 BeBeez Report

While venture capital activity in the third quarter of the year collapsed globally, Italy was an exception, with as many as 80 rounds raised for a total value of more than €1 billion. Q3 BeBeez Report

13 October 2022
BeBeez’s Fintech Report, more than €1bn raised by Italian startups and scaleups in 9 months. While lending platforms fueled more than 2.8 bn to SMEs in 6 months

BeBeez’s Fintech Report, more than €1bn raised by Italian startups and scaleups in 9 months. While lending platforms fueled more than 2.8 bn to SMEs in 6 months

10 October 2022

Events

BeBeez wishes you a Happy Easter! We will come back on at full regime on your desk next April 11th

9 April 2023
Merry Christmas and a 2021 of rebirth to all our readers!

Merry Christmas and a wish for 2023 to be a really good year for everyone!

24 December 2022
We wait for you in London at the Global NPL by Smith Novak next Oct 5-6. BeBeez is media partner

We wait for you in London at the Global NPL by Smith Novak next Oct 5-6. BeBeez is media partner

14 September 2022
Have a wonderful Summer! BeBeez goes on vacation and comes back on August 23rd. Catch our Summer offer and try BeBeez Private Data!

Happy Summer! BeBeez goes on vacation and comes back next August 22nd

8 August 2022

BeBeez Podcast

No Content Available

Co-sponsors

Partners

Tag

Banca Ifis Banco Bpm BeBeez Magazine bilanci blockchain bond bond Coronavirus COVID-19 Credito Fondiario deteriorati Fintech Gacs governo Hines hotel Illimity Italia Italy Italy Kryalos Lbo index Leanus logistica magazine NB Aurora nexi NPE npl npl Pir private capital private debt private debt private equity private equity private equity quotazione real estate Roma Round scaleup Utp venture capital venture capital
This site generates cookies, all of which are necessary for it to work properly. Here is our cookie policy page.

Necessary cookies

Cookie Google Analytics

Cookie tecnici

List of cookies - Privacy policy - Cookie policy
x
Cookies?
Bebeez

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

Follow

Risk Capital

  • Angels & Incubators
  • Venture Capital
  • Private Equity
  • Club deal
  • Spac
  • Euronext Growth Milan
  • Real Estate
  • Private equity, venture capital and private debt data in the world
  • Private capital in the world
  • Real Estate in the world

Credit & Debt

  • Private Debt
  • Crisis & Relaunch
  • Bad loans and other NPLs

Analysis & Columns

  • Insight Views EN
  • Report
  • Beez Peak
  • Comments
  • Data & Analysis
  • Fintech
  • Management
  • Art&Finance
  • GreenBeez

Tools

  • Sectors & Companies
  • Events
  • BeBeez Academy
  • BeBeez Podcast

Who we are

  • Who we are
  • What people say about us
  • Contacts

Personal data management

  • Login BeBeez News Premium
  • Subscribe

Information on the site

  • Privacy Policy
  • Terms and conditions of use
  • Cookie Police
  • Site Map

Powered by Olomedia © 2021

  • it Italiano
  • en English
  • Risk Capital
    • Angels&Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • Credit & Debt
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • Analysis & Columns
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • Tools
    • Sectors & Companies
    • Events
    • BeBeez Academy
    • BeBeez Podcast
  • Bebeez Premium
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • My Account
  • Subscribe

Powered by Olomedia © 2021

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Search...