Banco BPM SpA

Legal Proceedings Report • Dec 19, 2017

Informazione Regolamentata n. 1928-145-2017		Data/Ora Ricezione 19 Dicembre 2017 18:32:14	MTA
Societa'	:	Banco BPM S.p.A.
Identificativo Informazione Regolamentata	:	97240
Nome utilizzatore	:	BANCOBPMN08 - Marconi
Tipologia	:	2.2
Data/Ora Ricezione	:	19 Dicembre 2017 18:32:14
Data/Ora Inizio Diffusione presunta	:	19 Dicembre 2017 18:32:15
Oggetto	:	NR_Banco BPM sells without recourse approx. € 1.8 billion of unsecured bad loans
Testo del comunicato

Vedi allegato.

NEWS RELEASE

Banco BPM sells without recourse approx. € 1.8 billion of unsecured bad loans This is the biggest unsecured deal ever sold on the Italian market to date Crossed the halfway mark of the de-risking program less than a year after the merger

Milan, 19 December 2017 – In today's meeting, the Board of Directors of Banco BPM Spa approved the sale without recourse of two unsecured bad loan portfolios: a portfolio denominated Large, comprising about 370 borrowers under insolvency procedure with a GBV above €1m, and one denominated Mid, comprising about 16,400 borrowers with a GBV below €1m. The total nominal amount at 30 September 2017 added up to a gross value of approx. €1.8 billion.

The deal is the result of two separate competitive bids that were carried out in parallel, involving more than 50 domestic and international investors.

At the end of the competitive bid, the best offer for the Large Portfolio had been submitted by J Invest Spa, an Italian investment company specializing in the purchase of unsecured NPLs, while Hoist Finance, a leading NPL investor, listed on the Nasdaq in Stockholm, was awarded the Mid Portfolio.

The sales will be finalized by 31 December 2017.

The deal is poised to be the biggest non-recourse disposal of unsecured loans ever on the Italian market to date: once completed, total bad loan disposals executed since 2016 under the derisking program as part of the 2016-19 Strategic Plan, which envisages the disposal of € 8 billion of NPLs by 2019, will pass the € 4.5 billion mark, and will exceed the amount and price levels targeted by the Plan.

Banco BPM was assisted by Banca Akros and EY S.p.A as financial advisors and by Studio Orrick as legal advisor.

Contacts:

Investor Relations Roberto Peronaglio +39 02.77.00.2057 investor.relations@bancobpm.it Communications Matteo Cidda +39 02.77.00.7438 matteo.cidda@bancobpm.it

Press Office +39 02.77.00.3784 stampa@bancobpm.it