Fire S.p.A., Balbec Capital LP, IFIS NPL S.p.A. and Credito Fondiario S.p.A. acquired a portfolio of unsecured consumer credit non-performing loans from Banca Monte dei Paschi di Siena S.p.A..

Fire S.p.A., Balbec Capital LP, IFIS NPL S.p.A. and Credito Fondiario S.p.A. acquired a portfolio of unsecured consumer credit non-performing loans from Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) on January 2, 2019. Under the transaction, the portfolio of €2.2 billion was subdivided into 4 separate clusters based on the type and/or amount of individual exposures which were then acquired by Fire S.p.A., Balbec Capital LP, IFIS NPL S.p.A. and Credito Fondiario S.p.A. IFIS NPL S.p.A. acquired €1.16 billion of non performing loans. In a related transactions, Bain Capital Credit acquired portfolio of €0.9 billion of leasing bad loans from Banca Monte dei Paschi di Siena S.p.A. and Banca Monte dei Paschi di Siena S.p.A. also sold a portfolio of €0.4 billion of UTPs. The transaction will have marginal impact on the income statement of Banca Monte dei Paschi di Siena S.p.A. Paolo Oliviero, Gianpaolo Ciervo and Niccolò Riva of Bonelli Erede Pappalardo Studio Legale acted as legal advisors to Banca Monte dei Paschi di Siena S.p.A. Domenico Torini, Leonardo Tidone, Emanuele Cavalletti and Stefano Riccardi of KPMG Advisory S.p.A. acted as financial advisors to Banca Monte dei Paschi di Siena S.p.A. Fire S.p.A., Balbec Capital LP, IFIS NPL S.p.A. and Credito Fondiario S.p.A. completed the acquisition of a portfolio of unsecured consumer credit non-performing loans from Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) on January 2, 2019.