UniCredit unlocks €1.3bn of NPLs and reduces ratio to 3%

By Tom Brown
07 Jun 2019

UniCredit has teamed up with Pimco, GWM and Finance Roma for Project Sandokan 2, a co-investment programme which entered its operational phase on Thursday. It follows the successful launch of the debut Sandokan project, involving €1.3bn of loans implemented in December, 2016.

The programme continues with the implementation of Sandokan 2, a part of the Sandokan NPL securitization programme, which has the bandwidth to package up to €2bn of loans. A first tranche of loans will be transferred to the SPV by mid-June.

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