Reuters logo
BRIEF-Banca Carige to sell 938 mln euros of bad loans through securitisation
June 16, 2017 / 6:58 PM / 6 months ago

BRIEF-Banca Carige to sell 938 mln euros of bad loans through securitisation

June 16 (Reuters) - Banca Carige says:

* has transferred gross bad loans worth 938 million euros ($1.05 billion) to a vehicle that will wrap them in asset backed securities and sell them to investors

* it will tap a state guarantee scheme dubbed GACS to carry out the securitisation

* the move is part of the bank’s strategic plan requested by the European Central Bank last December Further company coverage: ($1 = 0.8933 euros) (Reporting by Milan newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below