WKB values Signa commitment at CHF 24.3 million
Published: Tuesday, Jan 16th 2024, 16:31
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The Walliser Kantonalbank (WKB) has outstanding receivables of CHF 24.3 million from the Austrian real estate group Signa, which has run into difficulties. This relates to mortgage financing in the form of a syndicated loan.
According to a press release issued by the bank on Tuesday, a number of articles had reported on WKB's involvement "with a group of investors in the retail and real estate sectors that had run into difficulties".
The cantonal bank has therefore obtained a waiver of banking secrecy for certain matters in order to be able to provide information about this financing. However, the name of the borrower is not explicitly mentioned in the communiqué.
It is a commitment in the form of a syndicated loan, guaranteed by a mortgage, in which several banks are involved, the statement continued. WKB's commitment of 24.3 million is secured by a mortgage on a high-quality property in the center of Zurich. To date, all interest and amortization obligations have been met on time.
WKB's total mortgage portfolio amounted to CHF 12.5 billion at the end of June. The loans are mainly covered by mortgages located in Valais.
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