UniCredit announces to have reached an agreement with AnaCap on the transfer of a €1.2bn non performing credit portfolio (NPLs) – press release:
UniCredit announces to have reached an agreement last week with AnaCap Financial Partners LLP (“AnaCap”) in relation to the transfer on non-recourse basis (pro-soluto) of a € 1.2 billion non performing credit portfolio claims (NPLs).
The sale refers to the Trevi 3 portfolio, consisting of Italian high vintage defaulted loans, both secured and unsecured, to small and medium enterprises and small businesses, with a gross book value of approximately €670 million.
The sale of the Trevi 3 portfolio is part of UniCredit’s on-going activities aimed at reducing non-core assets and at strengthening its credit profile. It represents the fourth asset disposal performed by the Group in 2015.
The economic-financial impacts will be reflected in 2015-Q3 balance sheet.
The parties have been supported respectively by the following legal advisors: Paul Hastings on the sell side and NCTM on the buy side.
The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
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