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Hogan Lovells advises Intesa Sanpaolo on Banca Progetto's EUR 670 million securitisation deal
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| 10
July
2023
Milan, 10 July 2023 – Global law firm Hogan Lovells has advised, as drafting and transaction legal counsel, Intesa Sanpaolo, as arranger, on Banca Progetto’s securitisation of receivables arising out of loans granted to Italian SMEs and guaranteed by Fondo Centrale di Garanzia, for a total nominal value of EUR 670 million.
The purchase of receivables has been funded through the issuance of two classes of asset-backed securities: a senior class for an amount of EUR 500 million subscribed by a conduit of Intesa Sanpaolo, and a junior class for an amount of approximately EUR 170 million subscribed by Banca Progetto.
The Hogan Lovells team was led by partner Corrado Fiscale with support from associates Diego Del Principe and Pietro Castoldi, and trainee Federico Mariani.
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