Consel targets smoother execution for second consumer ABS

Banca Sella 230x
By Tom Porter
19 Jun 2014

Banca Sella’s subsidiary consumer lender Consel will sell its second consumer ABS next month, and bankers are expecting the recent surge in both supply and demand in Italian ABS to ensure Monviso 2014 is less challenging to place than its predecessor.

Banca IMI has been mandated sole arranger, lead manager and bookrunner for Monviso 2014, which will offer investors €240m of AA+/AAH rated (Fitch/DBRS) 1.88 year Class A bonds with credit enhancement of 35.8%. Consel will retain an unrated €132.3m J tranche.

The issuer will meet investors in Germany, ...

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