Hogan Lovells advises Iccrea Banca on second €5 billion Covered Bond Programme and inaugural issuance

This is the first covered bond issuance programme approved in Italy by the Commissione Nazionale per le Società e la Borsa (CONSOB) for listing on the Borsa Italiana’s regulation market “Electronic Bond Market (MOT)” - Euronext Group.

The programme was structured to allow the issuance of Covered Bonds labelled ‘Premium’, in compliance with the new national and European regime on covered bonds.

The team that advised Banca Iccrea on the transaction was led by partner Annalisa Dentoni-Litta, together with senior associate Alessandro Azzolini and associates Leonardo Tripaldi, Cecilia Cancellieri and Davide Di Falco. Serena Pietrosanti, head of Tax Italy, and counsel Maria Cristina Conte advised on the tax aspects.