08/11/2023
Constitution of the Dedicated Asset ‘Pluto’
On 8 November 2023, before the Notary Giovannella Condò, a notary registered with the Milan Notary Board, the Constitution of the Assigned Patrimony dedicated to a specific business called ‘Pluto’, constituted pursuant to Article 2447-bis of the Italian Civil Code and issuance of a financial financial equity instrument issued on the same.
The deal consists of the purchase of a portfolio of non-performing loans from ‘CASSA RURALE ED ARTIGIANA DI RIVAROLO MANTOVANO (MANTOVA) CREDITO COOPERATIVO - SOCIETÀ COOPERATIVA’,
The Portfolio has the following characteristics:
- Gross Book Value Total (‘GBV’) equal to euro 1,156,921.96 and
- Purchase Price of euro 355,000.00.
The Portfolio consists of 47.82% of the GBV equal to €553,226.48 in secured loans and 52.18% of the GBV equal to €603,695.48 in unsecured loans (together, the ‘Loans’);
The Company issued 13 Participating Financial Instruments (SFP), for a total amount of euro 330,000.00 with a nominal unit value of euro 25,000, with subsequent multiples of euro 5,000 each reserved for subscription to professional investors identified by the Board of Directors of ARC Real Estate Spa. The remaining part of the purchase price, equal to euro 25,000.00, was instead financed through the subscription of a portion of the Destined Assets by Arc Real Estate S.p.A. itself.
A specific reserve of the Company's shareholders‘ equity has been set up against the Allocated Shareholders’ Equity, which cannot be merged with other shareholders' equity items, cannot be distributed to the Company's shareholders, and cannot be used by the Company
‘Pluto’ is composed of:
- 92.95% of the Portfolio's Receivables;
- 100% of the contributions of the subscribers of the SFF and of the funds of ARC Real Estate Spa used for the subscription of its share of the Destined Assets;
- the net proceeds from the Receivables contributed to the Destined Assets.
The Business Plan (available at the Company's premises) certifies the congruity of the Destined Assets with respect to the realisation of the business and illustrates the methods and rules relating to its use and the result that it is intended to achieve.
The Company shall have the task, as servicer of the Destined Assets, to carry out all the activities of management, administration and collection of the Portfolio in compliance with the credit collection and recovery policies, which it applies in its ordinary business of management, administration and recovery of credit portfolios.
19/06/2023
Constitution of the Dedicated Asset ‘Venus’
On 19 June 2023 before the Notary Giovannella Condò, notary registered with the Milan Notary Board, the Constitution of the Destined Assets dedicated to a specific deal called ‘Venere’, constituted pursuant to Article 2447-bis of the Italian Civil Code and the issue of a financial equity instrument issued on the same, took place.
The deal consists of the purchase of a portfolio of non-performing loans from ‘Banca del Valdarno Credito Cooperativo’,
The portfolio has the following characteristics:
- Gross Book Value Total (‘GBV’) equal to euro 2,488,499.10;
- Purchase Price equal to euro 380,000.00;
The Portfolio is composed of ‘Secured’ receivables for 100% of the GBV.
The company issued 14 Participating Financial Instruments (SFP), for a total amount of euro 350,000.00 with a nominal unit value of euro 25,000 each, reserved for subscription to professional investors identified by the Board of Directors of ARC Real Estate Spa.
The remaining part of the purchase price, equal to euro 30,000.00, was instead financed through the co-investment subscription of the Destined Assets by Arc Real Estate S.p.A. itself.
The ‘Venere’ Destined Capital is therefore equal to euro 380,000.00, of which euro 350,000.00 was constituted with contributions from third-party investors and euro 30,000.00 was constituted with ARC Real Estate Spa's own funds.
The Business Plan (available at the company) certifies the congruity of the Assets Allocated with respect to the realisation of the business and illustrates the methods and rules related to its use and the result that it is intended to pursue.
The Company shall have the task, as servicer of the Destined Assets, to carry out all the activities of management, administration and collection of the Portfolio in compliance with the credit collection and recovery policies, which it applies in its ordinary business of management, administration and recovery of credit portfolios.
21/09/2022
Constitution of the Dedicated Asset “Mercurio”
In Milan, at the Notary Office "Milano Notai", notary Giovannella Condò, took place the "Constitution of the Dedicated Asset called "Mercurio" constituted pursuant to art. 2447-bis c.c. and issue of a participatory financial instrument issued on the same.".
The characteristics of the deal regard a real innovation of the financial structure introduced by the management of ARC, that is the purchase of two portfolios through an operation "multi-originator" of non-performing credits of "Banca del Valdarno" and the "Banca di Credito Cooperativo di Fano".
The Portfolio has the following features:
- Total Gross Book Value ("GBV") of euro 8.000.255,00
- Purchase price ("NPV") equal to euro 975.000,00.
The Company issued No. 88 (eighty-eight) participatory financial instruments ("SFPs"), for a total amount of maximum € 880,000.00 (eight-eight hundred thousand) of the nominal unit value of € 10,000.00 (ten thousand) each reserved for subscription to professional investors identified by the board of directors.
SFPs, as specified in the Regulation (available from the company) indicates how SFPs constitute a venture capital investment and are "quasi-equity" securities with a participatory nature that do not provide any right to the refund of the contribution.
The Business Plan (available from the company) attests to the adequacy of the Destined Assets with respect to the realization of the deal and illustrates the modalities and rules relative to its employment and the result that it intends to pursue.
The Company will have the task, as servicer of the Dedicated Assets, to carry out all the activities of management, administration and collection of the Portfolio in compliance with the policies of collection and recovery of Receivables, which it applies in its ordinary management activities, administration and recovery of debt portfolios.
18/11/2021
Constitution of the Dedicated Asset “Saturno”
In Milan, at the Notary Office "Milano Notai", notary Giovannella Condò, took place the "Constitution of the Dedicated Asset called "Saturno" constituted pursuant to art. 2447-bis c.c. and issue of a participatory financial instrument issued on the same.".
The characteristics of the deal concern the purchase of a portfolio of non-performing loans of the "Banca di Valdarno Banca del Valdarno Credito Cooperativo", based in San Giovanni Valdarno.
The Portfolio has the following features:
- Gross Book Value ("GBV") of euro 3.041.562,76
- Purchase price ("NPV") equal to euro 390.000,00.
The Company issued No. 3 (three) participatory financial instruments ("SFPs"), for a total amount of maximum € 300,000.00 (three hundred thousand) of the nominal unit value of € 100,000.00 (one hundred thousand) each reserved for subscription to professional investors identified by the board of directors.
SFPs, as specified in the Regulation (available from the company) indicates how SFPs constitute a venture capital investment and are "quasi-equity" securities with a participatory nature that do not provide any right to the refund of the contribution.
The Business Plan (available from the company) attests to the adequacy of the Destined Assets with respect to the realization of the deal and illustrates the modalities and rules relative to its employment and the result that it intends to pursue.
The Company will have the task, as servicer of the Dedicated Assets, to carry out all the activities of management, administration and collection of the Portfolio in compliance with the policies of collection and recovery of Receivables, which it applies in its ordinary management activities, administration and recovery of debt portfolios.
30/12/2020
Extension of the Mini Bond offer period
Pursuant to art. 2 of the Loan regulation, ARC Real Estate has deliberated to extend, from December 30th 2020 to March 28th 2021, the offering period of the Mini Bond issued, which will be offered for subscription for the amount equal to the part of the Loan not subscribed during the precedent offer period. This operation will also be held via the portal www.crowdbond.it.
07/12/2020
ARC Real Estate issues a Mini Bond for € 1,5 million
ARC Real Estate SpA has issued bonds for a total of €1,5 mln. The operation is listed on the Vienna Stock Exchange.
The Bonds will have a duration of 5 years, with a gross annual interest rate of 6% and quarterly coupons. Another important feature is the overperformance bonus: at the expiration date, a bonus of 5% will be rewarded if the financial performance of the NPL porfolios is more than 70%.
The sum collected will be used to purchase non performing loan (NPL) portfolios (secured and unsecured), originating on the primart market. The GBV (gross booked value) per portfolio will be between € 0,5 mln and € 10 mln, if the composition inclused secured and unsecured positions; the GBV will be between € 1 mln and € 50 mln, if the porfotlio is unsecured.
Founded in 1993, ARC is a global, independent info-provider for banks and investment funds. In the NPL market, the company has assets under servicing for € 1 billion, deriving from debt management and collection on behalf of third parties, and asset under management for € 15 million, deriving from the non-recourse purchase of small-sized porfolios on the primary market.
"The financial resources collected from the Mini Bond will be useed for the purchase of new portfolios. This activity will definitely make us as a global, independent partner for banks and financial institutions, with an end-to-end offer" says the CEO, Massimiliano De Castro. "This operation allows us to show our potential as originator for the portfolio selection, as advisor for the valuation, and as sevicer for debt management and collection acivities."
