Hogan Lovells acts as drafting and transaction legal counsel in new €300 million securitisation for SMEs
Milan, 27 July 2023 - Global law firm Hogan Lovells acted as drafting and transaction legal counsel in the securitisation of portfolios of receivables (for a maximum amount of approximately EUR 300 million) arising from loans in favour of small and medium-sized enterprises, secured by Fondo Centrale di Garanzia and disbursed, through Opyn's fintech platform, by a fund managed by Azimut Investments.
The securitisation was arranged by Banca Ifis and Santander CIB (as co-Arrangers) and qualifies as an STS securitisation under EU Regulation 2402/2017.
The portfolios of guaranteed loans are purchased through the issuance of asset back partly paid notes which have been listed on the ExtraMOT PRO professional segment of Borsa Italiana and subscribed by Santander CIB as senior investor, Banca Ifis as mezzanine investor and Azimut as junior investor.
Hogan Lovells provided assistance with an international team led by partner Corrado Fiscale, with support from associates Diego Del Principe and Pietro Castoldi. The Luxembourg law team included partner Ariane Mehrshahi, senior associate Agnes Merz and associates Carla Valdes Cortes and Mathilde Soetens. Serena Pietrosanti, Head of Tax Italy, and senior associate Maria Cristina Conte advised on Italian tax law aspects.