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Hogan Lovells advises on “Popolari NPLs 2024” €205 million securitisation
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| 17
January
2025
Milan, 17 January 2025 - Global law firm Hogan Lovells has advised a pool of banks and financial intermediaries, as assignors, on the multi-originator securitisation of non-performing exposures coordinated by the Consorzio Luzzatti, with a total counter-value of approximately €205 million.
The securitization notes issued by the special purpose vehicle Luzzatti POP NPLS 2024 S.r.l. are divided into three tranches: (i) a tranche of senior notes with a value of €47.85 million rated BBB+/BBB (high) by the rating agencies ARC Ratings and Morningstar DBRS; (ii) a tranche of mezzanine notes with a value of €7 million, unrated; and (iii) a tranche of junior notes with a value of €1.5 million, also unrated.
The Hogan Lovells team that advised Consorzio Luzzatti and the pool of assignors on the transaction was led by managing partner Italy Patrizio Messina and counsel Andrea Cicia and composed by senior associate Leonardo Bafunno and associates Giorgia Carrozzo, Giacomo Farinati, Nicoletta Brodo and Cecilia Cancellieri.
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