By Jessica Sier

UniCredit SpA said Tuesday that it has agreed to sell a portfolio of Italian small- and medium-enterprise non-performing loans to Illimity SpA, Guber Banca and Barclays PLC.

The portfolio consists of Italian large-ticket exposures with a total gross claim value of 702 million euros ($803.6 million).

Illimity has bought a portion with a claim value of EUR477 million and GAIA SPV--the securitization vehicle that has Guber Banca and Barclays as noteholders --has bought around EUR225 million.

The agreement is already accounted for in UniCredit's second-quarter financial statements.

Write to Jessica Sier at jessica.sier@wsj.com

(END) Dow Jones Newswires

July 21, 2020 09:30 ET (13:30 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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