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Allen & Overy advises on the first STS auto loans securitisation of CA Auto Bank S.p.A.

Published Date
Nov 21, 2023
Allen & Overy has advised in relation to the first securitisation transaction of auto loans originated by CA Auto Bank S.p.A. having a nominal value of approximately 1 billion and 420 million euros.

The securitisation has been structured in accordance with Law 130/1999 (the Italian securitisation law) and in compliance with requirements of “simplicity”, “transparency” and “standardisation” (STS) provided by the European regulation on securitisations (Reg. EU 2017/2402). Prime Collateralized Securities (PCS) EU SAS has acted as third party verifier of these requirements.

The asset-backed Notes of the transaction have been issued by the special purpose vehicle Asset-Backed European Securitisation Transaction Twenty-two S.r.l. The Class A, B, C, D and E Notes have been rated by S&P and Fitch and have been listed on the Luxembourg Stock Exchange. Conversely, with reference to the Junior Notes (Class M), the assignment of a rating has not been requested neither the Junior Notes have been listed.

Allen & Overy has advised CA Auto Bank with a team led by partner Pietro Bellone and composed of associate Chiara D’Andolfo. Counsel Elia Ferdinando Clarizia has advised on the tax matters.

The securitisation has been structured in accordance with Law 130/1999 (the Italian securitisation law) and in compliance with requirements of “simplicity”, “transparency” and “standardisation” (STS) provided by the European regulation on securitisations (Reg. EU 2017/2402). Prime Collateralized Securities (PCS) EU SAS has acted as third party verifier of these requirements.

The asset-backed Notes of the transaction have been issued by the special purpose vehicle Asset-Backed European Securitisation Transaction Twenty-two S.r.l. The Class A, B, C, D and E Notes have been rated by S&P and Fitch and have been listed on the Luxembourg Stock Exchange. Conversely, with reference to the Junior Notes (Class M), the assignment of a rating has not been requested neither the Junior Notes have been listed.

Allen & Overy has advised CA Auto Bank with a team led by partner Pietro Bellone and composed of associate Chiara D’Andolfo. Counsel Elia Ferdinando Clarizia has advised on the tax matters.

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