MILAN – 20 July 2022 – Greenberg Traurig Santa Maria assisted illimity with the banking group’s agreement with UniCredit for the acquisition of a mixed non-performing loans portfolio. The portfolio consists entirely of Italian non-performing exposures with a total gross claim value of approximately € 1.3 billion. The acquisition is to be made through a securitization vehicle managed by illimity S.p.A. on a non-recourse basis (pro-soluto).
Greenberg Traurig Santa Maria assisted illimity and the securitization vehicle, both in the investor selection procedure and in the negotiation of the assignment contracts. The team consisted of partner Corrado Angelelli, senior associate Davide Bonsi, and trainee Francesca Muci.
llimity is a high-tech banking group that extends financing to high-potential SMEs, purchases distressed corporate loans and services these through its platform neprix, and provides digital direct banking services through illimitybank.com, according to its website. The banking group is headquartered in Milan.