The portfolio of loans with a face value of nearly $300 million was sold to one buyer – an SPV created a month ago by Czech company APS.
“Today is another important and historic event in the history of the market for NPLs of Ukraine. The event, a newly created Deposit guarantee Fund! New record!!! First, we sold to the largest pool of non-performing loans with a face value of approximately 8 billion UAH”, – said the Deputy managing Director of the DGF Svetlana Rekrut.
This “bonus” does not end there.
“Secondly, for the first time the buyer was a foreign investor that has experience with NPLs in Eastern Europe, namely Czech company APS Holding. Third, the sale occurred through the Government platform Prozorro, but with the assistance of an international consultant! I am proud of my team!!!” – Svetlana Rekrut added.
We are talking about the pool of assets of 21 banks with a nominal volume of $294 million of which 66% is located in Kiev and Kiev region.
The biggest exposures were to Delta Bank, Michael Bank, VAB Bank and Platinum Bank.
The Exclusive Advisor for the deal was Exito Partners and Cohen & Company; the NPL specialist firm which so far has closed the highest number of NPL transactions in Ukraine.
Today, this portfolio was put up for auction at a price 310,76 million.
In the course of trading the price fell by the maximum 80% up to 62,15 million UAH (about 0,77% of the nominal value).
In the last minute of the auction the APS Ukraine submitted the winning bid.
According to YouControl, APS Ukraine was established a little over a month ago – December 7, 2018 for activities in the field of financial services.
It is headed by Vladimir Chernetsky – head of Lviv trading company “Axiom of Success”.
100% of the capital of APS Ukraine in the amount of 135 million UAH comes from Czech company STAR INVESTMENT ONE CZ S. R. O., which is controlled by citizens of the Czech Republic Martin Baer and Tomas Chloupek.
The NPL portfolio pool consisted of assets from 21 banks, VAB Bank, Delta Bank, Bank St. Sophia, Energobank, Bank Finance and Credit Fortuna-Bank, Bank St. Petersburg Kievan Rus Integral-Bank National credit, Petrocommerce-Ukraine, Contract, Artem-Bank, Avant-Bank Ukrgazprombank, FBG, USB Bank, Khreschatyk Bank, IMEXBANK, Expobank, Platinum.
The portfolio included 335 credits: 42% of which were loans to small enterprises, 36% to mid enterprises, 20% large corporate, and 2% were loans for purchase of vehicles.
In December, the Fund boasted a successful sale of over 131 million UAH of assets the carrying amount of 6,8 billion UAH for 2% of the balance of the price.
Svetlana Rekrut said FinClub, what other items it expects further price declines, because the asset quality is very low.