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

Rothschild, Telecom Italia ‘working to find broadband partner’

Rothschild is working with Telecom Italia to find a partner to help fund part of the Italian phone group's broadband business in Italy, three sources said on Tuesday.

South African Finance Minister ordered home

Finance Minister Pravin Gordhan was set to return to South Africa early on Tuesday after he was ordered home by the president, a move that rattled markets amid media reports that he might be sacked.

Leave a Reply

Your email address will not be published.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