According to the announcement:
"NOTICE is hereby given to the Bondholders that, on 31 December 2025, the Issuer entered into a Loan Sale and Purchase Agreement (“LSPA”) with a purchaser (the “Purchaser”) pursuant to which the Issuer agreed to sell part of its Loan Portfolio, consisting primarily of non-performing corporate loans with collateral (including related financing exposures of the borrowers, co-obligors, or guarantors) with a total claim of €5,699 million as of 31 December 2024, which is the reference date for the sale (the “Sold Portfolio” and, collectively, the “Sale”).
The total legal claim of the remaining Loan Portfolio following completion of the Sale amounts to approximately €740 million as of 31 December 2024.
The Sale is expected to be completed on or around 9 February (the “Completion Date”), subject to the fulfillment of customary conditions precedent.
The Sale constitutes a Loan Portfolio Sale and is carried out in accordance with Clause 6 (Loan Portfolio Sale) of the Management Agreement. The net consideration to be received by the Issuer from the Sale on the Completion Date will constitute Receipts and will be allocated in accordance with the Payment Priority, including payments to the Class A Bonds, on the Interest Payment Date following the Quarterly Collection Period in which the Sale is completed."
