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28 December 2020

Banca Finint in the GACS of Luzzatti S.C.p.A .: it is the 30th securitisation with GACS under management

Finint Bank in the multi-originator GACS of the Popolari della Luzzatti S.C.p.A.

The multi-originator securitisation called POP NPLs 2020, involving a portfolio of 920 million NPLs originated by 15 banks for the most part popular, was completed in these days.

To finance the purchase, the securitisation vehicle issued three tranches of ABS notes for a total amount equal to 30.1% of the GBV. The senior class has obtained the BBB rating from the DBRS and Scope Ratings agencies and will be able to benefit from the State guarantee (GACS).

For Banca Finint (Securitisation Services division), which in this operation took on the roles of Calculation Agent, Representative of Noteholders, Back-up Master Servicer and Monitoring Agent of the #conducting vehicle, this is the 30th operation with GACS under management out of a total of 32 existing to date.

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