Allen & Overy and BonelliErede have provided assistance in relation to a securitization of consumer credits originating from Deutsche Bank S.p.A. for a value of approximately 4.7 billion euros.
This is the first securitization of this type of asset carried out by Deutsche Bank S.p.A .. The senior securities have obtained a rating from DBRS and Moody’s and have been admitted to trading on the ExtraMot Pro segment of the Italian Stock Exchange.
The transaction was structured according to the criteria of “simplicity, transparency and standardization” (STS) required by European legislation and was designated by the originator as STS by notification to ESMA. PCS acted as the third verifier.
Allen & Overy assisted Deutsche Bank AG, as arranger, with a team headed by partner Stefano Sennhauser and counsel Pietro Bellone, with the support of associate Chiara D’Andolfo and trainee Pietro Milanesi. The partner Francesco Guelfi and the senior associate Elia Ferdinando Clarizia, assisted by the associate Simona Simone and the trainee Lino Ziliotti, took care of the tax profiles.
BonelliErede supported Deutsche Bank S.p.A. with a team led by partner Massimiliano Danusso, leader of the Debt Capital Markets Focus Team, assisted by managing associate Ilaria Parrilla, associate Giulia Lucchini and trainee Sara Pirri.
Involved fees earner: Pietro Bellone – Allen & Overy; Elia Ferdinando Clarizia – Allen & Overy; Chiara D’Andolfo – Allen & Overy; Francesco Guelfi – Allen & Overy; Pietro Milanesi – Allen & Overy; Stefano Sennhauser – Allen & Overy; Simona Simone – Allen & Overy; Lino Ziliotti – Allen & Overy; Massimiliano Danusso – BonelliErede; Giulia Lucchini – BonelliErede; Ilaria Parrilla – BonelliErede; Sara Pirri – BonelliErede;