UniCredit Offloads EUR1.1 Billion in Nonperforming Loans
June 15 2022 - 3:02AM
Dow Jones News
By Cristina Roca
UniCredit SpA said Wednesday that it has transferred a portfolio
of nonperforming loans with a claim amount of 1.1 billion euros
($1.15 billion) to Itaca SPV Srl, a securitization vehicle.
The Italian lender said the transaction took place in the
framework of GACS, a scheme set up by the Italian government to
make it easier for commercial banks to remove bad loans from their
books.
This deal is the group's fifth GACS-backed transaction,
UniCredit said.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
June 15, 2022 02:47 ET (06:47 GMT)
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