23 June 2021
Banca Finint in the maxi-securitisation of NPLs with Banco BPM's GACS
Banco BPM recently completed a maxi-securitisation of a portfolio of real estate NPLs with a nominal value of 1.5 billion euro, called Project Rockets.
To finance the purchase, the securitisation vehicle Aurelia SPV S.r.l. issued three tranches of ABS notes for a total amount of 394 million. The senior class has obtained the BBB rating from the agencies Scope Ratings GmbH and DBRS Morningstar and will be eligible for the State guarantee (GACS).
In the transaction, Banca Finint assumed the roles of Back-up Master Servicer, Representative of Noteholders and Monitoring Agent of the securitisation vehicle. For Banca Finint this is the 33rd transaction with GACS in which it is involved.
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