|Delayed - 01/22 11:35:34 am|
doValue S p A : New Servicing Agreement with Bain Capital Credit in Cyprus for 0.7 Billion Euro
|11/17/2020 | 01:37am|
NEW SERVICING AGREEMENT WITH BAIN CAPITAL CREDIT IN CYPRUS
FOR APPROXIMATELY EURO 0.7 BILLION
Rome, November 17, 2020 - doValue, the leading operator in Southern Europe in credit management and real estate services for banks and investors ("doValue" or "the Group"), is pleased to announce the signing of a memorandum of understanding with Bain Capital Credit, a leading global credit specialist, for the exclusive management of a portfolio of non-performing loans originated in Cyprus for a total claim of approximately 650 million euro.
The portfolio, known as "Project Marina", was originated by National Bank of Greece and is primarily comprised of secured corporate and SME loans, from more than 2,000 debtors. doValue, through local subsidiary Altamira Asset Management Cyprus, will carry out all NPL and REO servicing activities, including the preparatory and on boarding processes.
With this agreement, the total volume of servicing mandates won by doValue in Southern Europe so far in 2020 reaches 9.3 billion Euro, achieving the pre-COVIDfull-year target of between 9 and 11 billion Euro and confirming the positive outlook of the loan and real estate servicing markets.
doValue, formerly doBank S.p.A., is the leading operator in Southern Europe in credit management and real estate services for banks and investors. Present in Italy, Spain, Portugal, Greece and Cyprus, doValue has some 20 years of industry experience and manages assets of more than €130 billion (gross book value) with over 2,350 employees and an integrated range of services: special servicing of NPLs, UTPs, early arrears and performing positions, real estate servicing, master servicing, data processing and provision and other ancillary services. doValue is listed on the Electronic Stock Market (Mercato Telematico Azionario) operated by Borsa Italiana S.p.A. and, including the acquisition of Altamira Asset Management, recorded gross revenues in 2019 of about €364 million with an EBITDA margin of 39%.
Simona Raffaelli - Emilia Pezzini firstname.lastname@example.org
Investor Relations - doValue S.p.A. Fabio Ruffini 06 47979154
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doValue S.p.A. published this content on 17 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2020 06:36:00 UTC