The Board of Directors of Banco BPM resolved to proceed with the sale, through a securitisation, of a portfolio of more than 330 non-instrumental real estate assets with a total book value of approximately 295 million euros (the Project "Square").

The transaction represents a key step towards achieving the targets of the 2023-26 business plan, strategic plan, which provides for the disposal of 50% of the non-instrumental assets.

The real estate assets will be transferred in multiple tranches starting from the end of 2024, once the conditions for the deed have been met, and they will be acquired by a securitisation vehicle managed by one of a global leader in asset management and a leading investor in the structured credit market.

In the transaction, Banco BPM used, among others, YARD REAAS as technical advisor for the technical due diligence, regularisation and closing support activities.