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Riviera NPL: 22 December 2018

On 4 December 2018, the Carige Group transferred without recourse a portfolio of loans classified as "bad loans" to the special purpose vehicle RIVIERA NPL S.R.L. pursuant to a transfer agreement entered into under articles 1, 4 and 7.1 of Law no. 130 of 30 April 1999.

The originators of the loans transferred as part of this transaction - called "Riviera NPL"- are Banca Carige S.p.A. and Banca del Monte di Lucca S.p.A.

In this second NPL transaction, Banca Carige contributes around 97% of the underlying pool and the rest is being originated by BML. The assets supporting the notes are NPLs with a gross book value of around EUR 964 million as of the cut-off date, comprising also collections since the cut-off date, December 2017, to the transfer date totalling around EUR 11.8 million.