SG, Intesa Sanpaolo mandated for Italian salary and pension loan ABS

SocGen 2
By Tom Brown
07 Oct 2020

ViViBanca has mandated Société Générale as arranger and Intesa Sanpaolo as joint-leads to price a €344.7m Italian consumer ABS deal backed by salary and pension assignment loans, Eridano II.

The €300m, 2.88-year class ‘A’ notes, the only offered tranche, includes a €100m protected order, and feature 12.43% credit enhancement (CE).

The 7.13-year class ‘B’ notes, which will be retained, have a set 300bp coupon.

Italian salary-assignment loans, which collateralise the deal, are loans under which borrowers commit ...

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