(PRESS RELEASE) BRUSSELS / DUBLIN, 7-Feb-2022 — /EuropaWire/ — KBC Group N.V. (EBR: KBC), a Belgian universal multi-channel bank-insurer, and KBC Bank Ireland, an Irish bank part of KBC Bank, have announced the closing of the deal related to the sale of a non-performing mortgage loan portfolio of roughly EUR 1.1 billion (mainly Private Dwelling House (PDH) and Buy to let (BTL)) in a transaction financed by funds managed by CarVal Investors, an established global alternative investment manager focused on distressed and credit-intensive assets and market inefficiencies.
CarVal Investors is an established global alternative investment manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, CarVal’s team has navigated through ever-changing credit market cycles, opportunistically investing 133 billion US dollars in 5 610 transactions across 82 countries. Today, CarVal Investors has approximately 11 billion US dollars in assets under management in corporate securities, loan portfolios, structured credit and hard assets.
Pepper Finance Corporation (Ireland) DAC (‘Pepper’) will be managing the loans post completion as the legal title holder and the lender of record. Pepper is regulated by the Central Bank of Ireland, so all customers will continue to be afforded all regulatory protections.
General Manager KBC Corporate Communication / Spokesperson KBC Group
+32 2 429 85 45
Kurt De Baenst
General Manager, Investor Relations, KBC Group
+ 32 2 429 35 73
For KBC Bank Ireland, Edelman
+ 353 86 805 87 64
SOURCE: KBC Group