July 21, 2020 / 1:15 PM / 21 days ago

BRIEF-UniCredit To Sell EUR 702 Mln NPL To Illimity And Guber Banca with Barclays Bank

July 21 (Reuters) - UniCredit SpA:

* TO SELL TO ILLIMITY AND GUBER BANCA WITH BARCLAYS BANK PLC OF AN ITALIAN SMALL MEDIUM ENTERPRISE UNSECURED NON-PERFORMING LOANS PORTFOLIO

* PORTFOLIO CONSISTS ENTIRELY OF ITALIAN LARGE-TICKET EXPOSURES WITH A TOTAL GROSS CLAIM VALUE (“CLAIM VALUE”) OF APPROXIMATELY EUR 702 MILLION

* IMPACT IS ALREADY ACCOUNTED IN THE SECOND QUARTER 2020 FINANCIAL STATEMENTS

* ILLIMITY HAS BOUGHT PORTION OF PORTFOLIO WITH CLAIM VALUE OF ABOUT € 477 MILLION AND GAIA HAS BOUGHT ABOUT € 225 MILLION Source text: bit.ly/32EPnKR Further company coverage: (Gdansk Newsroom)

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