Banca Populare di Intra, a regional Italian bank, is in the market with a E486.5 million offering backed by residential and commercial mortgages. The deal, Intra Mortgage Finance 1, is being structured and lead managed by Credit Suisse First Boston, say market officials. Calls to the CSFB syndication desk in London were not returned by press time last Tuesday.
The deal, set to close this month, is comprised of 71.4% residential assets and 28.6% commercial. The majority of the properties are situated in Northern Italy--mostly in the Lombardy and Piedmont regions. It could not be learned if Intra Mortgage Finance 1 is Intra's debut deal in the European securitization market.