Intesa Sanpaolo, Banca Akros, Banco BPM, and junior institutional investors structure new securitization of receivables by Crédimi

Client(s) Intesa Sanpaolo, Banca Akros, Banco BPM, and junior institutional investors

Jones Day assisted Intesa Sanpaolo and Banca Akros (the investment bank of Banco BPM group), as arrangers, Intesa Sanpaolo and Banco BPM, as senior investors, as well as the junior institutional investors, in connection with a new receivables securitization set up by Crédimi, Europe's leading fintech company in digital business financing. The securitized assets are receivables deriving from loans granted by Crédimi to small and medium-sized enterprises guaranteed by the Italian Central Guarantee Fund for SMEs.

The securitization was implemented through the issuance by the special purpose vehicle named Perseveranza SPV of asset-backed partly paid notes for a total amount up to €200 million.