Home / Business / World Business / Intesa sets April 4 deadline for bad loan sale

Intesa sets April 4 deadline for bad loan sale

Intesa Sanpaolo has set an April 4 deadline to submit binding offers for a bad loan portfolio worth 2.5 billion euros it has put up for sale and for which it expects to receive three bids, two sources familiar with the matter said.

The portfolio, dubbed “Beyond the clouds”, is made up of corporate loans and backed by real estate assets for about 30 percent.

The sources said the bank was expected to receive three binding bids from the following teams of investors and servicers: Christofferson Robb & Company and Bayview Asset Management, Apollo Global Management and Credito Fondiario, Cerberus Capital Management and Cerved.

All the interested parties declined to comment. (Reuters)

Check Also

Greece attains primary surplus of 3.9 pct of GDP

Greece improved its public finances last year, achieving a general government surplus of 0.7 percent of gross domestic product compared to a 5.9 percent of GDP deficit in 2015, the country's statistics agency ELSTAT said on Friday.

Sterling flat ahead of UK retail sales data

Sterling was flat against the dollar on Friday ahead of UK data expected to show …

Leave a Reply

Your email address will not be published. Required fields are marked *