Pirelli Re wins auction for two portfolios of non-performing loans with gross book value of € 2.3BN.

Jun 30 2006
Price sensitive
Pirelli RE announces that has won the auction for two portfolios of non-performing loans (NPLs) held by the securitisation vehicles ICR4 and ICR7 belonging to Banco di Sicilia. The portfolios have a total gross book value of approximately €2.3bn and a net book value of around €550m.