15 December 2020
Banca Finint in the first UniCredit leasing GACS of Euro 1.6 billion
UniCredit Leasing has successfully completed the transfer of approximately € 1.6 billion of credit to an Italian non-performance portfolio represented by real estate leasing. It is the first transaction in Italy with underlying leases aimed at obtaining the GACS for senior notes.
The securitisation was carried out through the vehicle Relais SPV S.r.l. and the related LeaseCo, a support company pursuant to law 130/99 for the management of real estate assets.
The operation, unique of its kind, was completed with the intervention of Banca Finint in the roles of Corporate Servicer, Monitoring Agent, Calculation Agent, Representative of Noteholders and Back-up Servicer Facilitator of both the securitisation vehicle and the LeaseCo.
For Banca Finint (Securitisation Services Division) this is the 27th securitisation with GACS under management out of a total of 29 to date.
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