19 December 2020
Banca Finint in UBI Banca's GACS: it is the 28th securitisation with GACS under management out of a total of 30 existing to date
Banca Finint, through the Securitisation Services Division, has taken on the roles of Calculation Agent, Corporate Services Provider, Representative of Noteholders, Back-up Servicer and Monitoring Agent in the #-securitisation of NPLs with an 800 million euro GACS finalised in these days by UBI Bank.
The securitisation vehicle company Sirio NPL S.r.l., set up by Banca Finint, purchased a portfolio of non-performing SME loans and issued approximately 400 million senior, mezzanine and junior securities which were fully subscribed by UBI Banca.
The senior securities will be able to benefit, at the end of the application process, of the guarantee on the securitisation of bad loans issued by the Italian State (the so-called GACS).
This operation represents for Banca Finint the 28th securitisation with GACS under management out of a total of 30 existing to date.
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