Hogan Lovells advises on €860 million euro securitisation to support Italian small and medium enterprises

Press releases | 09 August 2019

Milan, 23 July 2019 – International law firm Hogan Lovells advised Banca Valsabbina with Banca Finint in a €860 million euro securitisation. The capital, which will be raised in two tranches of asset backed security offerings, will increase the amount of loans the European Central Bank will be able to grant to Italian small and medium enterprises (SMEs).

This is the first qualified “simple, transparent and standardized” (STS) securitisation transaction in Europe to use mortgages and unsecured loans from SMEs under the new regulations, and the first qualified STS transaction in Europe to have been listed on the ExtraMOT PRO segment of the Italian Stock Exchange.

The team of Hogan Lovells lawyers included partner Corrado Fiscale, counsel Giulia Arenaccio, associate Diego Guardì and trainee Giulia Paparella. Additionally, partner Fulvia Astolfi and senior associate Maria Cristina Conte advised on tax issues.