Banca Generali uses securitization hybrid for SME funding

By Tom Brown
02 Jul 2020

Banca Generali has used a non-profit securitization structure to channel more funds to SMEs, offering a model which be rolled out across Italy and further afield. Funds from Italian regions have anchored the riskiest 10% of the new deal, with a central government guarantee wrapping the senior 90%, which can be sold to investors.

Banca Generali recently finalised a securitization programme called “Italianonsiferma” made possible by SME financing platform Credimi, a web platform that turns invoices into cash advances for Italian corporates.

A number of private investors have subscribed to two securitization transactions, with Banca Generali's Extraordinary International Fund, created in ...

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