Media | 14 June 2016 14:35

publity wins further contract for winding-up an NPL portfolio, boosting its total credit portfolio servicing volume to EUR 1.7 billion

DGAP-Media / 2016-06-14 / 14:35

– Servicing contract for further NPL portfolio from international investor

– New portfolio comprises 1,300 property loans

– NPL activities expanded as second pillar of publity’s business model

Leipzig, 14 June 2016 – publity AG (Entry Standard, ISIN DE0006972508) today announced the successful expansion of its NPL business after having won a further servicing contract for a portfolio of non-performing loans (NPLs). The new contract was signed with an international investor, which just recently had commissioned publity with winding up and liquidating an NPL portfolio with a volume of EUR 1.1 billion. The new portfolio comprises 1,300 property loans with receivables totalling more than EUR 600 million. The servicing agreement has a term of five years, and publity will receive a portion of the liquidation proceeds. The two portfolios have a total volume of approx. EUR 1.7 billion spread across more than 2,400 exposures.

Complementing publity’s co-investment core business through joint ventures with institutional investors focused on high-yield commercial properties in major German metropolitan areas, the NPL segment is the second pillar in the company’s business model and plays an increasingly important role in contributing to publity’s accelerated growth. In its NPL business, publity benefits from its many years of experience in special circumstances property financing and in purchasing and servicing NPLs.

In this transaction, publity was legally advised by the law firm of CMS Hasche Sigle with a team headed by Lead Partner Frank Schneider.

Thomas Olek, Chairman of the Executive Board of publity AG, comments: “The new contract demonstrates the potential of the NPL business, which we will continue to leverage by applying our expertise and our strong network in the banking and insurance sector. This gives us a second pillar for our dynamic growth.”

Press contact:
Financial press and investor relations:
edicto GmbH
Axel Mühlhaus/Peggy Kropmanns
Telephone: +49 69 905505-52
E-Mail: publity@edicto.de

About publity
publity AG is an asset manager specialising in office properties in Germany. The company covers a broad value chain, from purchases through to the development and sale of the properties, and also has a track record of several hundred successful transactions. publity is characterised by its sustainable network in the real estate sector as well as banks’ Work Out departments, and has excellent access to funding. The company executes its transactions quickly using a highly efficient process with tried and trusted parters. In some cases, publity acts as a co-investor in joint venture transactions to a limited extent. publity AG’s shares (ISIN DE0006972508) are traded on Frankfurt Stock Exchange’s Entry Standard.

End of Media Release

Issuer: publity AG
Key word(s): Real estate

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