June 1, 2017 / 9:34 AM / in 2 months

Intesa Sanpaolo strikes deal to bad loans worth 2 bln euros to CRC, Bayview-sources

1 Min Read

June 1 (Reuters) - Italy's top retail bank Intesa Sanpaolo has reached an agreement to sell a portfolio of bad loans with a nominal value of 2 billion euros ($2.25 billion) to U.S. firm Christofferson Robb & Company (CRC) and problem loan manager Bayview Asset Management, three sources close to the matter told Reuters on Thursday.

The two buyers could sell a small portion of the portfolio to MBCredit Solutions, the credit management company of investment bank Mediobanca, which could also act as servicer on some of the bad loans, two of the sources said.

Mediobanca is expected to provide financing for the deal, the sources said. ($1 = 0.8906 euros) (Reporting by Gianluca Semeraro and Massimo Gaia, editing by Silvia Recchimuzzi)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below