23 December 2020
Banca Finint in the 4.3 billion securitisation of Intesa Sanpaolo: Banca Finint assumes, for the first time, the role of Master Servicer
Banca Finint took on, for the first time, the role of Master Servicer in the securitisation of NPLs with GACS of € 6.033 billion gross, finalised in recent days by Intesa Sanpaolo.
The transaction was carried out through the vehicle Yoda SPV S.r.l., set up by Banca Finint, which also assumed the roles of Corporate Services Provider, Representative of the Noteholders, Calculation Agent and Monitoring Agent.
The vehicle issued € 1.101 billion of senior notes, € 210 million of mezzanine notes and € 20 million of junior notes. For the senior notes, fully subscribed by Intesa Sanpaolo, the release of the GACS guarantee is expected by the first quarter of 2021.
This operation represents for Banca Finint the 29th securitisation with GACS under management out of a total of 31 to date.
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