Global law firm Hogan Lovells has advised BancoSantander, as arranger senior lender and swap counterparty, on a new €350 million securitization of receivables arising from loans backed by salary or pension assignment and payment delegation originated by ViViBanca.
The securitization has been structured in compliance with requirements of “simplicity”, “transparency” and “standardisation” (STS) provided by the European regulation (Reg. EU 2017/2402).
The securitization involved the issuance of two classes of notes, the junior note has been issued as a variable funding notes and subscribed by ViviBanca, the senior note was issued with a tap issuance structure.
The Hogan Lovells team that advised on the transaction was led by partner Annalisa Dentoni-Litta and included counsel Salvatore Graziadei and associates Leonardo Tripaldi and Giorgia Carozzo. Serena Pietrosanti, head of Tax Italy, and Maria Cristina Conte, counsel, advised on the tax aspects of the transaction.
