Allen & Overy advises on the first securitisation platform in relation to receivables guaranteed by the Central Guarantee Fund with the involvement of EIF
Elia Ferdinando Clarizia
16 March 2022
Allen & Overy has advised on the structuring of a securitisation platform in relation to receivables arising from loans to SMEs and Mid-Corporates guaranteed by the Central Guarantee Fund, for an overall amount of approximately EUR170 million.
This project named “IGLOO” (Italian Guaranteed Loan Origination Platform) has been promoted by the European Investment Fund (EIF), Gruppo MutuiOnline and Gruppo NSA with the support of the Central Guarantee Fund and aims at facilitating access to credit by SMEs and Mid-Corporates, with a particular focus on climate transition and environmental sustainability. This is the first initiative of this kind carried out in Italy by specialised non-banking institutions with the involvement of EIF as investor.
Allen & Overy has assisted Société Générale as lead arranger, Intesa Sanpaolo (Divisione IMI Corporate & Investment Banking) CIB, Banca Akros (Banco BPM Group) and Banca Finint as co-arrangers, as well as Duomo Funding, Banco BPM (Institutional Division) and Société Générale as senior notes subscriber with a team led by partner Stefano Sennhauser and counsel Pietro Bellone, along with Martina Gullino and Fabio Gregoris. The tax aspects of the transaction have been dealt with by partner Francesco Guelfi and senior associate Elia Ferdinando Clarizia, together with associates Simona Simone and Lino Ziliotti.