IBL Banca Completes €507 Million Asset-Backed Securities Placement

**Press Release Summary:** The law firms Legance and Gianni & Origoni participated in a recent transaction involving IBL Banca, assisting the respective parties in the asset-backed securities placement. Legance provided legal support to Intesa Sanpaolo and UniCredit Bank, while Gianni & Origoni assisted IBL Banca. In this transaction, IBL Banca successfully completed a new placement of asset-backed securities valued at approximately €507 million. The operation was conducted through the special purpose vehicle Savoia SPV and involved a private stand-alone securitization of receivables totaling around €616 million. The portfolio consisted of loans secured by the assignment of a portion of salaries or pensions, originally granted by Banca di Sconto and subsequently transferred to the parent company, IBL Banca. The asset-backed securities were issued by Savoia SPV in two tranches: senior and junior. The senior securities were subscribed by UniCredit Bank and Intesa Sanpaolo (through the vehicle Duomo Funding PLC) for €507 million, while the junior securities, amounting to €109 million, were fully subscribed by IBL Banca itself. IBL Banca, Intesa Sanpaolo, and UniCredit Bank acted as co-arrangers for the transaction. The legal teams involved in the transaction included: - **Legance**: - Antonio Matino (Partner) - Paolo Bossini (Senior Associate) - Michele Vinci (Associate) - Luigi Quaratino (Counsel, Tax) - **Gianni & Origoni**: - Alessandro Giuliani (Partner) - Alessio Palumbo (Senior Counsel) - Leandro Leone (Senior Associate) - Francesco Totaro (Associate)

IBL Banca Completes €507 Million Asset-Backed Securities Placement

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