Intesa Sanpaolo, Banca Akros, and Société Générale structure new securitization of leases originated by Alba Leasing

Client(s) Intesa Sanpaolo, Banca Akros S.p.A., and Société Générale

Jones Day advised Intesa Sanpaolo, Banca Akros S.p.A., and Société Générale, as joint arrangers and drafting counsel, on a new securitization transaction relating to various portfolios of receivables arising from financial lease agreements for an amount of €1.2 billion. The transaction has been completed by the securitization vehicle Alba 13 SPV S.r.l. through the issuance of two classes of “senior” notes (class A1 notes and class A2 notes), as well as “mezzanine” and “junior” notes. The “senior” notes and the ”mezzanine” notes have been rated Moody’s, DBRS and Scope and listed on Euronext Dublin. The securitization has been structured in accordance with the legal framework applicable to “simple, transparent and standardized” securitizations (STS) in accordance with the EU Regulation 2402/2017.