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Deal Date: 14-10-2020 Practice Area: Debt Capital Markets
Deal Title: Monte dei Paschi Demerger of Non-Performing Loans Portfolio Industry: Banks
Allen and Overy advised JP Morgan and UBS in the definition and closing of the financing agreements supporting the demerger of a non-performing assets portfolio for a value of around EUR9 billion from Banca Monte dei Paschi di Siena (MPS), a leading Italian bank, in favour of Amco S.p.A., a leading company in non-performing exposure management. The agreements comprised, in particular, a bridge loan of around EUR3 billion to MPS, that would be refinanced in part with a limited recourse loan to Amco through a securitisation vehicle and a EUR1 billion secured financing from the financing banks.
Financial Center: Milan Value: 5000.01-10000.00
Advised Party: Arranger Law Firm
Assets Jurisdiction Italy Issuer Jurisdiction Italy
Classification: Securitisation and Structured Finance Non-Performing Loans
Lawyer Craig Byrne