Credito Fondiario carried out a complex securitization transaction within the purchase of a portfolio consisting of non-performing loans for a GBV (Gross Book Value) of Euro 27.6 million and other equity instruments claimed against Panini S.p.A., a company specialized in digital check acquisition and transformation solutions.
The bank acted as institutional partner of Stoneweg, a Geneva based Real Estate investment company, whilst serving also as Master Servicer, Special Servicer, Corporate Servicer, Calculation Agent and Paying Agent of the vehicle company during the operation.
Stoneweg purchased the credits – all classified as Unlikely to Pay – by Mps Capital Services – Banca per le Imprese S.p.A, Asset Management Company – Amco and Ubi Banca and subscribed the titles through Seta Holding S.A..
The transaction allowed the investor to simplify Panini S.p.A. financial structure, gaining the opportunity to allocate more resources to the new company relaunch business plan.
The success of this articulate project proves Credito Fondiario as a key reference partner for third party investors in the management and implementation of securitization procedures in Italy.