Allen & Overy advises on the securitisation of residential land loans originated by ING Bank
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Allen & Overy provided assistance in relation to a securitisation deal of residential land loans originated by ING Bank Milan Branch.
The deal was carried out through the issuance, by the special purpose vehicle Leone Arancio RMBS, structured pursuant to Italian Law 130/1999, of three distinct classes of asset-backed notes (two senior and one junior) with a partly paid structure for a total amount of approximately EUR8 billion.
The securitisation was structured and certified “STS” by Prime Collateralised Securities EU SAS (PCS) in compliance with the European regulation on “simple, transparent and standardised” securitisations (STS), pursuant to European Regulation 2402/2017.
Allen & Overy advised TMF Trustee Limited acting as Representative of the Security Holders with a team led by partner Stefano Sennhauser and comprising senior associate Martina Gullino and trainee Alessia Cellucci.