illimity Bank S.p.A. structures securitisation of monetary receivables arising from loans disbursed by Microcredito di Impresa

Client(s) illimity Bank S.p.A.

Jones Day advised illimity Bank S.p.A.. as sole arranger and senior investor, in connection with the structuring of a securitisation transaction of monetary receivables for a maximum amount of approximately €100 million arising from loans disbursed by Microcredito di Impresa to its clients qualifying as “microenterprises” and benefiting of the state guarantee of Mediocredito Centrale. The transaction has been carried out through the issuance by the Italian securitisation vehicle Beatrix SPV S.r.l. (incorporated under the Italian law 130/1999) of senior and junior asset-backed notes having a “fungible notes” structure and subscribed by illimity Bank and Microcredito di Impresa.