UniCredit S.p.A. And Agorà Finance S.r.l.’s Securitization Of An Acquisition Financing

Allen & Overy has advised UniCredit S.p.A. and UniCredit Bank AG in relation to the securitisation of a portion of an acquisition finance loan granted by UniCredit S.p.A. and the special purpose vehicle Agorà Finance S.r.l.

This is the first syndication, known to the market, of an acquisition finance loan carried out through an Italian securitisation vehicle. 

The transaction involves the granting of a financing by Agorà Finance S.r.l. to a company having as its corporate purpose the holding of an equity stake in industrial and real estate entities, pursuant to article 1, paragraph 1-ter, of Law 130/99 over an innovative securitisation platform established by UniCredit for the transfer of bank loan exposures and/or direct lending in the acquisition finance, real estate, project and infrastructure sectors. 

The notes issued by the special purpose vehicle have been subscribed for by a fund managed by a leading international alternative investment manager.

Allen & Overy assisted in the structuring of the platform and the securitisation of the acquisition finance loan with a team led by partner Stefano Sennhauser and counsel Pietro Bellone, with the support of associate Fabio Gregoris. Partner Francesco Guelfi and senior associate Elia Ferdinando Clarizia, together with associate Lino Ziliotti, advised on the tax aspects of the transaction.

Involved fees earner: Pietro Bellone – Allen & Overy; Elia Ferdinando Clarizia – Allen & Overy; Fabio Gregoris – Allen & Overy; Francesco Guelfi – Allen & Overy; Stefano Sennhauser – Allen & Overy; Lino Ziliotti – Allen & Overy;

Law Firms: Allen & Overy;

Clients: UniCredit Bank AG; Unicredit S.p.A.;

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Author: Michael Patrini