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Allen & Overy advises BNP Paribas in the securitisation of a real estate loan

Allen & Overy has advised BNP Paribas in relation to the securitisation of a loan granted by the bank to a closed-end real estate alternative investment fund reserved to professional investors and managed by a leading Italian asset management company. 

In the context of the transaction BNP Paribas has transferred the receivables arising from a portion of such loan to a special purpose vehicle incorporated in Italy pursuant to Law 130/99. The notes issued by the special purpose vehicle have been subscribed for by a leading international investor.

Allen & Overy has provided assistance in the securitisation with a team led by partners Stefano Sennhauser and counsel Pietro Bellone, supported by associate Chiara D’Andolfo and trainee Pietro Milanesi. Partner Francesco Guelfi and senior associate Elia Ferdinando Clarizia, together with associates Simona Simone and Lino Ziliotti, have advised on the tax aspects of the transaction.