By Cristal Cody
Tupelo, Miss., Dec. 7 – Banca Carige Italia SpA priced a €716.8 million two-part collateralized loan obligation offering of notes that are backed by individual and small- and medium-sized enterprises loan receivables, according to a market source.
Lanterna Finance SRL sold €385 million of class A asset-backed notes at Euribor plus 169 basis points and €331.8 million of class B asset-backed notes at Euribor plus 370 bps.
The notes are due Oct. 28, 2065.
UniCredit SpA arranged the offering.
The notes are backed by loans receivables originated by Banca Carige, Banca Carige Italia SpA, Banca del Monte di Lucca SpA, Cassa di Risparmio di Carrara SpA and Cassa di Risparmio di Savona SpA and granted to individual entrepreneurs and small- and medium-sized enterprises based in Italy.
Each bank will service their respective securitized portfolio, with Carige also assuming the role of master servicer.
Banca Carige is a Genoa, Italy-based bank.
| Issuer: | Lanterna Finance SRL
|
| Amount: | €716.8 million
|
| Maturity: | Oct. 28, 2065
|
| Securities: | Asset-backed notes
|
| Structure: | ABS SME CLO
|
| Placement agent: | UniCredit SpA
|
| Master servicer: | Banca Carige Italia SpA
|
| Pricing date: | Dec. 2
|
|
|
| Class A notes
|
| Amount: | €385 million
|
| Coupon: | Euribor plus 169 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class B notes
|
| Amount: | €331.8 million
|
| Coupon: | Euribor plus 370 bps
|
| Ratings: | Non-rated
|
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