Juno 2 S.r.l.: 12 February 2019

This will be the second transaction of Italian NPLs under the Juno name from Banca Nazionale del Lavoro, the first trade having closed in July 2018.

The transaction is EUR264.75m in size, backed by a gross book value of EUR968m. The portfolio is comprised of 3,609 loans, where the 10 and 100 largest borrower exposures respectively account for 19% and 56.2% of gross book value. As per the previous transaction, the pool is comprised of both senior secured (57.7%) and unsecured (42.3%) loans. Obligors: companies – 92.3%, individuals – 7.7%. Regional distribution: north - 32.8%, centre - 38.9% and south - 28.3%.

Compare/contrast: Juno 1 S.r.l.