Allen & Overy with Bank of America in the securitisation of a real estate loan
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13 January 2022
Allen & Overy has advised Bank of America in relation to the securitisation of a loan granted by Bank of America Europe Designated Activity Company, Milan branch to a closed-end real estate alternative investment fund reserved to professional investors and managed by a leading Italian asset management company.
The transaction involves the transfer of 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 investment firm.
Allen & Overy has provided assistance in the securitisation with a team led by partners Stefano Sennhauser and Pietro Scarfone and counsel Pietro Bellone, supported by associate Fabio Gregoris. 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. Partner John Hwang and associate Jeffrey You of the New York office have provided assistance in relation to US law matters.