The Banking & Finance team of Baker McKenzie assisted Cassa di Risparmio di Cento S.p.A. and FISG S.r.l. (Banca Finint Group), as arranger, in all legal and tax aspects in relation to the execution of a new securitization of receivables arising out of residential mortgage loans for a value of EUR 319,000,000.00.
The securitization was funded through the issuance of limited recourse notes listed for the senior tranche at Borsa Italiana (Italian Stock Exchange) and having been assigned a rating equal to AA (sf) by S&P and Aa3 (sf) by Moody's. The notes have been structured in order to provide an eligible collateral for the monetary policy operations to be carried out by Cassa di Risparmio di Cento S.p.A. with the European Central Bank.
The Baker McKenzie team was led by Counsel Carlo Lichino, with the assistance of junior associate Laura Conversa, and involvement of Counsel Francesco Florenzano and associate Marzio Bucciol for tax aspects.