doValue: will manage more than 6 billion of Unicredit's bad debts

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doValue announces that it has reached an agreement with Unicredit that provides for the exclusive management by the doValue Group, as master and special servicer, of a portfolio of non-performing residential mortgages worth around € 6.1 billion (gross book value).

The agreement concerns a securitization transaction involving a portfolio of non-performing residential mortgages assisted, in large part, by real estate guarantees and distributed throughout the Italian territory, "Project Prisma". By size, this is the most important residential npl securitization project in Europe.

Almost all the receivables involved in the transaction are already managed by doValue as part of the contract with Unicredit stipulated in 2015. The agreement today confirms the role of the doValue Group as Special Servicer of the securitization and assigns it the role of Master Servicer of the portfolio, helping to strengthen doValue's leadership in the servicing sector in Southern Europe and particularly in Italy.

For the credits covered by the agreement, Unicredit is expected to start the process for the release, by the Italian State, of the guarantee on the securitization of non-performing loans pursuant to Legislative Decree No. 18/2016 and subsequent amendments (GACS).