FIRST STAGE OF STRATEGIC PARTNERSHIP WITH BANCO BPM WHICH ENVISAGES AN NPL JV PLATFORM COMPLETED

Credito Fondiario and Banco BPM today announced the completion of a securitisation structure (Leviticus), thus marking an important step in the implementation of their strategic partnership signed last December 2018.

The partnership envisages a joint venture in NPL servicing and the disposal by Banco BPM of an NPL loan portfolio (Project ACE). The parties announced today the completion of the securitisation structure, with the issuance of the notes by Leviticus, the special-purpose vehicle (SPV) utilised for this transaction. The underlying NPL loan portfolio – at the end of the process – will be managed by the joint venture. Credito Fondiario was appointed and will act as master and special servicer of Leviticus. - PRESS RELEASE