Alantra advises UniCredit on the securitisation of a €1.1 billion NPL mixed portfolio

Jun 2022

Securitisation

Value €1.1 billion

Alantra, the global investment banking and asset management specialist, is pleased to announce that it has acted as an advisor to UniCredit S.p.A. (“UniCredit”) on the securitisation of a €1.1 billion NPL mixed portfolio, backed by the GACS guarantee. The portfolio was sold to the special purpose vehicle ITACA SPV S.r.l. (“ITACA SPV”). Following the sale of the portfolio, ITACA SPV issued €125 million in senior notes, rated Baa2 by Moody’s and BBB by Scope Ratings.

The transaction encompassed tight and challenging deadlines, requiring timely execution and coordination of all work streams and actors involved. Alantra supported UniCredit on data enablement and achieved a benchmark transaction within the envisioned deadlines.

Renato Limuti, Managing Director at Alantra, said, “We are grateful to have supported UniCredit in completing their second GACS transaction in six months. Since 2020, our international and integrated practice has been advising and arranging more than 20 cash and synthetic securitisation transactions for financial institutions across the market. We look forward to strengthening our practice and helping UniCredit bring benchmark structured finance and strategic capital management transactions to the market.”

“This transaction confirms Alantra’s strong footprint in NPL and RPL ABS securitisations advised and arranged across Europe,” added Francesco Dissera, Managing Director of Alantra. Alantra has recently completed leading transactions in the UK, Italy, Ireland, Greece, and Cyprus.