BNP Paribas assigns trade receivables originated by ASA Italia S.r.l. and ASA Switzerland AG to Ifitalia S.p.A.
Clients BNP Paribas
Jones Day assisted BNP Paribas in connection with the assignment of trade receivables originated by ASA Italia S.r.l. and ASA Switzerland AG. The transaction has been implemented through the transfer, on a revolving basis, without recourse (pro soluto) and pursuant to Italian Law No. 52 of February 21, 1991, by ASA Italia S.r.l. and ASA Switzerland AG in favor of Ifitalia S.p.A. (a financial intermediary belonging to the BNP Paribas group and one of the main factoring operators in Italy) of trade receivables arising from the supply of packaging and metal components in various European jurisdictions. Jones Day also assisted with the relevant structured funding.