April 4, 2017 / 10:17 AM / in 7 months

Intesa postpones bid deadline for 2.5 bln euro bad loan sale - sources

MILAN, April 4 (Reuters) - Intesa Sanpaolo has pushed to April 6 the deadline to submit the binding offers for a 2.5 billion-euro bad loan portfolio it has put up for sale, three sources familiar with the matter said.

The deadline was originally set for March 20 but was then postponed to Tuesday.

One of the sources told Reuters the delay was due to technical and legal matters.

The portfolio, dubbed “Beyond the clouds”, is made up of corporate loans and backed by real estate assets for about 30 percent. (Reporting by Massimo Gaia and Gianluca Semeraro, editing by Francesca Landini)

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