UniCredit frees up capital with infrastructure reg cap trade

By Joseph McDevitt
24 Jan 2014

UniCredit has sold the riskiest two tranches of a portfolio of project finance loans to a US hedge fund, freeing up a chunk of capital that can either be used for new lending or help it meet tougher capital requirements.

The Italian bank tranched the risk in a €910m portfolio of Italian project finance loans. It kept the senior slice of portfolio risk, but the transfer of junior and mezzanine risk was enough to free up most of the capital that was previously held against the loan portfolio. ...

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