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UniCredit sells NPL portfolio to 3 banks

UniCredit SpA agreed to sell an unsecured nonperforming Italian leasing loans portfolio with a gross claim value of about €154 million as of June 30 to Barclays Capital Securities Ltd., Guber Banca SpA and Banca IFIS SpA.

Guber Banca and Barclays purchased, through a special purpose vehicle, part of the portfolio with a claim value of roughly €112 million, while Banca IFIS bought the remaining part of the portfolio valued at about €42 million.

UniCredit said the sale is part of its ongoing strategy to reduce nonperforming exposures, adding that it expects the impact from the transaction to be reflected in its fourth-quarter results.