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CORRECTED-BRIEF-Italy's Banca Carige sells bad loans worth 938 mln euros
July 6, 2017 / 6:22 AM / 20 days ago

CORRECTED-BRIEF-Italy's Banca Carige sells bad loans worth 938 mln euros

1 Min Read

(Corrects to read 309.7, bullet point 2)

July 6 (Reuters) - Italy's Banca Carige says:

* sold bad loans worth 938.3 million euros to Brisca Securitisation vehicle on June 16

* Brisca Securitisation issued on Thursday NPL backed securities for 309.7 million euros

* Securities include 267.4 mln euros in senior tranche rated BBB (high) investment grade by DBRS and A3 investment grade by Moody's; 30.5 mln euros in mezzanine tranche rated B (low) by DBRS and rated B3 by Moody's and 11.8 mln euros in junior tranche with no rating

* lender has fully subscribed the issue by Brisca Securitisation and will place junior and mezzanine tranches on market for total value of 309.7 mln euros Further company coverage: (Reporting by Milan newsroom; editing by Jason Neely)

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