Cases & Deals

Intesa Sanpaolo - Divisione IMI Corporate & Investment Banking acts as arranger on first securitization by Spefin Finanziaria S.p.A.

Clients Intesa Sanpaolo - Divisione IMI Corporate & Investment Banking

Jones Day advised Intesa Sanpaolo - Divisione IMI Corporate & Investment Banking, as arranger, in the structuring of the first securitization transaction implemented by Spefin Finanziaria S.p.A. and relating to personal loans backed by the assignment/delegation of the fifth of the salary/pension (so-called “CQS”) originated by Spefin Finanziaria S.p.A. and/or originated by other banks and financial intermediaries.

The transaction has been implemented through the issue pursuant to Italian law 130/1999 of asset-backed notes on a “partly paid” basis by the securitization vehicle “SPE ONE SPV S.r.l.”. The receivables have been and will be transferred to the securitization vehicle by Spefin Finanziaria S.p.A., an Italian financial intermediary operating in the salary secured loans (“CQS”) market.