JPMorgan Chase Bank, Milan branch completes first securitization transaction by Cherry Bank
Client(s) JPMorgan Chase Bank, N.A., Milan branch
Jones Day advised JPMorgan Chase Bank, N.A., Milan branch, as senior investor, in the first securitization transaction carried out by Cherry Bank involving various portfolios of receivables arising from loans provided to Italian SMEs. The transaction involves the sale by Cherry Bank, on a revolving basis, of various portfolios of receivables arising from loans (including loans guaranteed by the Guarantee Fund for SMEs and SACE) disbursed by Cherry Bank itself and other banks and/or financial intermediaries for a total maximum amount of approximately €400 million.