White & Case in Innovative €125 Million Italian Securitisation
9 July 2003 MILAN / ROME: White & Case advised
co-arrangers CIBC World Markets and Banca Akros in a €125 million
securitisation of mortgage loan receivables originated by Banca
di Bologna.
The financing incorporated a revolving structure
with mortgage backed securities issued on a partly paid basis, an
innovative mechanism for an Italian securitisation. Market operators
believe that the structure could provide potential to a number of
originators with relatively modest initial portfolios to securitise
their receivables in a cost effective manner.
This is White & Case’s first Italian transaction
with the asset securitisation team at CIBC World Markets, which
has completed a number of deals with White & Case’s London
office. The firm’s Italian finance group has expanded in the
last 12 months to meet a growing demand for structured finance products
across Europe. No other firm offers the English, European and US
expertise resident in Europe to structure, negotiate and execute
sophisticated and creative solutions.
“White & Case brought Italian, English
and New York law advice, and broad finance law experience to the
transaction,” explained lead partner Corrado Rosano, “which
meant that, despite this being an unusual securitisation for the
Italian market, the outcome was a great success.”
“White & Case has focused on building
out its Italian finance capabilities in the last year,” explained
Senior Partner for Italy, John Riggs. “We have focused recently
on building our Italian securitisation practice as part of a European
strategy linked with our London, Frankfurt and Paris offices.”
“The European structured finance market is
rapidly expanding and White & Case is at the forefront,”
said Head of European Structured Finance, Rich Reilly. “Our
European network has this year acted on a number of structured finance
transactions including the €354 million Daphne Finance I CLO
for Credit Suisse First Boston, which involved our Frankfurt, London
and Paris offices.”
Partner Corrado Rosano led the White & Case
team assisted by associates James Gerard, Dominic Griffiths and
Arturo Meglio.
Chiomenti Studio Legale advised Banca di Bologna.
Receive the aptly named update service from Securitizability.com:
Copyright Securitizability.com 2005 ABOUT US
Disclaimer_____ Contact___
Privacy Statement
|
