Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Illimity Bank S.p.A.    ILTY   IT0005359192

ILLIMITY BANK S.P.A.

(ILTY)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

illimity Bank S p A : finalised purchase of distressed credit for a GBV of 120 mln

10/30/2020 | 09:45am EST

ILLIMITY FINALIZES NEW PURCHASES OF DISTRESSED CREDIT IN SPECIAL

SITUATIONS ENERGY AND REAL ESTATE AREAS

Milan, 30 October 2020 - illimity Bank S.p.A. ("illimity" or the "Bank") announces that it has finalized, through two new transactions, the purchase of distressed credits in Special Situations Energy and Special Situations Real Estate areas, for a total gross book value of around 120 million euro.

The first transaction concerns the purchase of a distressed portfolio of leased photovoltaic assets, completed through the securitization vehicle dedicated to the energy sector held by illimity and VEI Green II SpA ("VEI Green"). The deal relates to seven contracts for a total GBV of 20.5 million euro, partly classified as Unlikely-To-Pay ("UTP") and partly as bad loans. Through this transaction, the joint venture with VEI Green, which aims at investing up to 100 million euro in this sector, has ensured 360° operations with respect to market opportunities. The plants, located on roof, land and greenhouses, have a total power of over 8MW and currently benefit from the incentive rate recognized by the Electricity Service Manager.

The second transaction, completed by the Special Situations Real Estate team, concerns the purchase of single name receivables classified as UTP, claimed by Banco BPM S.p.A. from FinGruppo Holding S.p.A. in liquidation (the "Company") for a total gross nominal value of approximately 98 million euro. With this transaction, illimity consolidates almost all the debts due from the Company, having previously purchased further 61 million euro form another bank.

Andrea Clamer, Head of Distressed Credit Investment & Servicing Division of illimity, commented: "With these two new deals, illimity confirms its ability to grow in distressed market segments with a high level of specialization and expected return. Despite the difficulties represented by the current economic and financial context, the Distressed Credit Investment & Servicing Division continues its activity, thanks to the robust pipeline of opportunities and the digital nature of illimity, which allows it to fully operate in an extensive smart working mode.".

***

For further information:

Investor Relations

Silvia Benzi: +39.349.7846537 - +44.774.1464948 silvia.benzi@illimity.com

Press & Communication illimity Isabella Falautano, Francesca D'Amico +39.340.1989762 press@illimity.com

Sara Balzarotti, Ad Hoc Communication Advisors +39.335.1415584 sara.balzarotti@ahca.it

Illimity Bank S.p.A., Sede Legale Via Soperga 9, 20124 Milano, Italia - www.illimity.com

illimity Bank S.p.A.

illimity Bank S.p.A. illimity is the high-tech banking group founded and headed by Corrado Passera which was created with the aim of responding to specific market needs by way of an innovative and specialised business model. More specifically, illimity extends financing to high-potential SMEs, purchases distressed corporate loans and services these through its platform, neprix, provides direct digital banking services through illimitybank.com and, with illimity SGR, over the next few months will set up and manage the first Alternative Investment Fund for corporate loans. The illimity Group's story began in January 2018 with the launch of the special purpose acquisition company SPAXS S.p.A., which ended with the raising of a record 600 million euro on the market. SPAXS subsequently acquired Banca Interprovinciale S.p.A., with the resulting merger between the two giving rise to "illimity Bank S.p.A." which began trading on Borsa Italiana's MTA exchange on 5 March 2019 (ticker "ILTY"). The banking group, headquartered in Milan, already employees over 500 staff and ended its first year of activity with assets of 3 billion euro.

Illimity Bank S.p.A., Sede Legale Via Soperga 9, 20124 Milano, Italia - www.illimity.com

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

illimity Bank S.p.A. published this content on 30 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2020 14:44:07 UTC


© Publicnow 2020
All news about ILLIMITY BANK S.P.A.
01/08ILLIMITY BANK S P A : finalizes with York Capital two new Senior Financing deals
PU
01/05ILLIMITY BANK S P A : Communication of changes in share capital
PU
01/05ILLIMITY BANK S P A : sells NPL portfolio of 129 million of gross book value
PU
2020ILLIMITY BANK S P A : finalizes three new operations on distressed credit single..
PU
2020ILLIMITY BANK S P A : Joint Venture HYPE – Deeds of contribution executed
PU
2020ILLIMITY BANK S P A : Notice publication documents Shareholders Meeting
PU
2020ILLIMITY BANK S P A : Shareholders' Meeting approves the share capital increase ..
PU
2020ILLIMITY BANK S P A : finances Smemoranda Group in the sign of digital innovatio..
PU
2020LET'S TALK ABOUT SPACE : the fifth illimity talk at SIOS20 with Corrado Passera ..
PU
2020ILLIMITY BANK S P A : Supporting Italy's SMEs through innovative lending
PU
More news
Financials
Sales 2020 162 M 196 M 196 M
Net income 2020 30,6 M 36,9 M 36,9 M
Net Debt 2020 - - -
P/E ratio 2020 22,4x
Yield 2020 -
Capitalization 674 M 815 M 814 M
Capi. / Sales 2020 4,16x
Capi. / Sales 2021 2,74x
Nbr of Employees 546
Free-Float 76,0%
Chart ILLIMITY BANK S.P.A.
Duration : Period :
illimity Bank S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ILLIMITY BANK S.P.A.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Average target price 10,45 €
Last Close Price 9,18 €
Spread / Highest target 14,4%
Spread / Average Target 13,8%
Spread / Lowest Target 13,3%
EPS Revisions
Managers and Directors
NameTitle
Corrado Passera Chief Executive Officer & Director
Rosalba Casiraghi Chairman
Francesco Renato Mele Chief Financial Officer
Massimo Brambilla Director
Maurizia Squinzi Independent Director
Sector and Competitors