Banca Mediocredito del Friuli Venezia Giulia has signed a binding agreement to sell to Bain Capital Credit a non-performing exposures portfolio valued 400 million euros (gbv) (see here the press release).
The Npe portfolio includes a major part of real estate loans and represents more than 70% of the whole bad loans exposures of the bank and about 65% of all the Npe of the bank as of December 2016, when Npe reached 563 million euros or 245 millions net of write-downs.
The deal will be finalized as soon as the bank’s shareholder will subscribe an 80 million euros announced indivisible capital increase (part of a 100 million euros capital increase, see here the press release). Actually the 2017-2019 industrial plan states that the capital increase and the Npe sale are two strictly interlinked steps for the bank towards its financial relaunch (see here the press release).
The bank chaired by Cristiana Compagno has been advised by Finanziaria Internazionale Securitization Group, Chiomenti law firm and Equita sim for the deal.
