Milano, 15 December 2006
Banca Intesa has signed today a contract for the sale of a portfolio of performing residential mortgages for a nominal amount of approximately 3.6 billion euro to a special purpose vehicle established pursuant to Law 130/1999 for a possible structured funding transaction through the issue of mortgage-backed securities.
The sale will become effective only at the time of the issue of securities which will occur, subject to adequate market conditions, presumably during the first quarter of 2007. The sale price is equal to the book value of loans and will be paid upon placement of securities.
Securitised loans will be recorded in the financial statements as loans sold but not derecognised therefore not reducing consolidated assets and net interest income.
This communication does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities. The shares of Banca Intesa S.p.A. may not be offered or sold in the United States except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration.
Banca Intesa
Investor Relations
+39.02.87943180
investorelations@bancaintesa.it
Banca Intesa
Media Relations
+39.02.87963531
stampa@bancaintesa.it
Last updated 15 December 2006 at 07:00
