201608.12
0

PAVIA E ANSALDO WITH ICCREA BANKING GROUP IN A 1.4 BILLION EURO SECURITIZATION

Milan, August 12, 2016 - Iccrea Bank was the sole arranger in the operation with underlying receivables from leasing agreements of Iccrea Bancaimpresa which led to the issue of five series of ABS bonds, of which the first two (A1 and A2) with senior ranking. Class A1, of EUR 202 Million, were subscribed by Iccrea BancaImpresa and will be used as collateral in refinancing operations.  The Class A2 bonds of EUR 480 Million were instead subscribed by the European Investment Bank (EIB).

The mezzanine part of the operation (Class B) has total value of  EUR 65 Million. The bonds were initially subscribed by Iccrea BancaImpresa which will sell a part worth EUR 45 Million to KfW, the final investor benefitting from the guarantee of the European Investment Fund (EIF)

The bonds of Classes A and B have been listed on the Dublin Exchange and rated by Moody’s and DBRS.

Pavia e Ansaldo’s team was composed by Mario Di Giulio, Caterina Luciani, Maria Rita Coviello Gallagher and Caterina Mancini.

EIB and EIF were assisted by Dario Longo, Elio Indelicato and Lorenzo Dal Canto of Linklaters.