IBL Banca issues Series 16 asset-backed securities for €446 million co-arranged by UniCredit Bank AG

Client(s) IBL Istituto Bancario del Lavoro S.p.A. and Unicredit Bank AG

Jones Day advised IBL Banca and UniCredit Bank AG, as co-arrangers, in connection with the issuance of Series 16 of asset-backed securities under the securitization program for a total maximum amount of €10 billion, launched by IBL Banca in 2017 through the special purpose vehicle Marzio Finance S.r.l. The asset-backed securities of the sixteenth series was issued for a total amount of approximately €446 million. The Class A securities and Class B securities were rated by Moody's and Fitch and listed on the Luxembourg Stock Exchange. The Class A securities were placed on the market while the Class B securities were underwritten by IBL Bank itself. Conversely, Class J securities did not obtain ratings, nor were they listed.