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A&O Shearman advises on EUR 1.2bn first on-balance sheet SRT securitization by IBL Banca

A&O Shearman advises on EUR 1.2bn first on-balance sheet SRT securitization by IBL Banca
A&O Shearman advised a leading alternative investment manager specialized in European credit markets on the first on-balance sheet securitization carried out by IBL Banca for significant risk transfer (SRT) purposes.

The transaction involved the issuance by an Italian securitization vehicle of credit linked notes referencing a portfolio of loans assisted by salary/pension assignments or payment delegations. This is also the first on-balance sheet securitization structured in such format that achieved the STS label in Italy.

The A&O Shearman team advising on the transaction was led by partner Pietro Bellone and senior associate Giovanni Chiarli, along with partner Parya Badie and senior associate Robert Simmons. Counsel Elia Ferdinando Clarizia provided assistance on tax matters.

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