Banca Sistema acts as originator and arranger on new portfolio of receivables deriving from loans backed by salary and pension assignment and payment delegation
Client(s) Banca Sistema S.p.A.
Jones Day advised Banca Sistema, as originator and arranger, on the assignment of a new portfolio of receivables deriving from loans backed by salary and pension assignment and payment delegation. The assignment has been perfected in the context of the securitisation transaction “Quinto Sistema Sec 2017". The assignment of the new portfolio has been financed through the additional installments paid on the relevant asset-backed notes. The senior and mezzanine notes have been rated by DBRA Morningstar and Moody's agencies. The senior notes are also eligible collateral for refinancing transactions with the Eurosystem.