IBL Banca issues Series 18 asset-backed securities for €700 million co-arranged by Intesa Sanpaolo and UniCredit

Client(s) IBL Banca, Intesa Sanpaolo, and UniCredit

Jones Day advised IBL Banca, Intesa Sanpaolo and UniCredit, as co-arrangers, on the annual renewal of the securitisation programme launched by IBL Banca in 2017 through the special purpose vehicle Marzio Finance, as well as in the issuance of the eighteenth series of asset backed securities under that programme. This transaction represents the first prospectus for securitisation ABS intended for professional investors to be approved by Consob (Italian Companies and Exchange Commission) pursuant to the Prospectus Regulation, as well as the first listing of such financial instruments on the professional segment of Borsa Italiana’s MOT market.

The asset-backed securities of the eighteenth series were issued for a total amount of approximately €700 million.

The Class A Notes (approximately €666.5 million) were partially subscribed by Intesa Sanpaolo and UniCredit through a private placement, while the Class B and Class J Notes (approximately €48.5 million and €29.7 million, respectively) were fully subscribed by IBL Banca.