Banca Sistema and Banca IMI assign two public ratings for senior and mezzanine notes

Client(s) Banca Sistema S.p.A. and Banca IMI S.p.A.

Jones Day advised Banca Sistema S.p.A. and Banca IMI S.p.A., as co-arrangers, in connection with the assignment of two public ratings for the senior and mezzanine notes, having a "partly paid" structure, issued in the context of a securitization transaction of receivables deriving from salary secured loans ("CQS") established in March 2016 by the securitization vehicle "Quinto Sistema Sec. 2016 S.r.l.", carried out pursuant to the Italian securitization law (Law 130/99 SPV). The rating to the senior and the mezzanine notes has been assigned by the Rating Agencies DBRS and Moody's. The senior and the mezzanine notes have been also admitted to the official list of the Luxembourg Stock Exchange and to trading on the Regulated Market “Bourse de Luxembourg" .