MBCredit Solutions

MBCredit Solutions acquires €500m NPL portfolio from Unicredit

MBCredit Solutions has acquired a portfolio of unsecured corporate and retail receivables from Unicredit Leasing worth a total of approx. €500m, consisting of some 9,000 positions. The receivables are unsecured, and consist almost entirely of non-performing accounts in connection with leasing contracts.
The acquisition represents the successful completion of a competitive process in which several investors were bidding to obtain the portfolio put up for sale by Unicredit Leasing, assisted in the process by its parent company Unicredit.

To value the portfolio, MBCredit Solutions used statistical models constructed from direct experience of managing similar positions in terms of technical form (i.e. leasing). The information base for the model had an historical depth of more than 15 years, having been compiled on the basis of all proprietary positions in the leasing segment acquired and managed by the company since 2000.

Based on its own scoring models, MBCredit Solutions will manage the portfolio by identifying clusters of similar receivables to process via a multi-network model, leveraging on its own network and operators specializing in the same asset class. This will also include the legal processing, which is an increasingly important component of NPL recovery strategies.

Francesco Barelli Terrizzi, CEO of MBCredit Solutions, commented: “This is an important deal for us, which confirms MBCredit Solutions as industrial partner to large banks and financial institutions in NPL management, on the back of our ability to manage and create value from different asset classes, whether retail or corporate, as demonstrated by the composition of the portfolio we have under management. Some 70% of the company’s AUM comes from retail clients and 30% from corporate clients”.

Against specific transactions, the MBCredit Solutions portfolio of non-performing accounts now consists of some 450,000 positions worth a nominal amount of approx. €2.5bn.
MBCredit Solutions was advised by lawyers Gattai, Minoli, Agostinelli & Partners on the transaction.

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