Agos completes €1.2bn cash SRT securitization; A&O Shearman advises arrangers and joint lead managers

"Agos, jointly owned by Crédit Agricole (via Crédit Agricole Personal Finance & Mobility) and Banco BPM, completed a cash SRT (Significant Risk Transfer) securitization of performing consumer loans totaling about EUR 1.2bn — its second transaction combining liquidity and credit risk transfer. Crédit Agricole CIB and Banca Akros acted as arrangers, with BBVA and Intesa Sanpaolo (IMI CIB) as joint lead managers; the senior and mezzanine notes were rated by Morningstar DBRS and Fitch and placed with institutional investors (after a portion was retained by Agos). A&O Shearman advised the arrangers and joint lead managers, handling the legal documentation and the Bank of Italy SRT recognition process (team led by partner Pietro Bellone and senior associate Chiara D’Andolfo; counsel Elia Ferdinando Clarizia covered tax). A&O noted the deal reflects growing investor appetite and increasing maturity in the Italian securitization market."