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Banca Carige sells €1.2B NPL book to Credito Fondiario

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Banca Carige sells €1.2B NPL book to Credito Fondiario

Banca Carige SpA sold a portfolio of nonperforming loans valued at €1.2 billion and its debt-servicing platform to Credito Fondiario SpA, Reuters reported.

From the portfolio deal, Banca Carige will earn €265.7 million, corresponding to about 22% of the nominal gross value of the loans, and another €31 million from the sale of the platform.

Banca Carige also said it would issue an addendum to the prospectus of its rights issue, which is slated to end Dec. 6, the newswire said.