Cases & Deals

October and Intesa Sanpaolo launch €200 million ABS Notes financing of State Guaranteed Loan for Italian SMEs

Client(s) October and Intesa Sanpaolo

Jones Day assisted the SME lending platform October and Intesa Sanpaolo, as senior investor of the asset-backed notes, in the context of a €200 million financing of State Guaranteed Loans for Italian SMEs through the direct lending French FFS licensed as ELTIF (European Long Term Investment Fund) named “October Italian SME Fund 1” and the issuance of ABS Notes by a French FCT named “SME Funding Italy Direct October 2020-A”. The State Guaranteed Loans are granted to Italian small-and-medium enterprises by the direct lending fund in compliance with the Covid-19 Response Italian Decrees (decreto legge of 17 March 2020, n. 18 (Decreto Cura Italia) and decreto legge of 8 April 2020, n. 23 (Decreto Liquidità)).