Milan – Global law firm Hogan Lovells has advised Natixis and illimity Bank, as arrangers, in relation to a securitisation of receivables arising from loans granted by a Luxembourgish fund managed by Azimut Investments to Italian SMEs.
The loans, secured by the guarantee issued by the Fondo Centrale di Garanzia managed by Mediocredito Centrale – Banca del Mezzogiorno, are placed through the fintech platform managed by Opyn, which also offers origination and credit analysis services.
The portfolios of guaranteed loans (for a maximum amount of EUR 300 million) are purchased through the issuance, by the special purpose vehicle Anubi SPE S.r.l, of asset backed securities subscribed by Natixis and illimity Bank, as senior investors, and Azimut, as mezzanine and junior investor.
Hogan Lovells provided assistance with an international team led by partner Corrado Fiscale, with support from associates Diego Del Principe, Pietro Castoldi and trainee Federico Mariani. The team was supported by a Luxembourg team led by partner Ariane Mehrshahi with support from senior associate Agnes Merz and associates Carla Valdes Cortes, Mathilde Soetens and Martina Benackova. Partner Laura Asbati and associates Vicenzé Franzil and Julie Toux advised Natixis on French law aspects in connection with the subscription of the asset backed securities. Serena Pietrosanti, Head of Tax Italy, and senior associate Maria Cristina Conte advised on Italian tax issues.
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