Hoist Finance successfully completes the inaugural EUR 225 million securitisation transaction backed by Italian NPLs
Hoist Finance has successfully completed the securitisation of a portfolio of Italian non-performing, unsecured loans (NPLs) with a gross book value of EUR 225m (the “Transaction”) as announced on 29 July 2019. The Transaction involves the issuance of two classes of notes issued by the securitisation company Pinzolo SPV S.r.l. (an Italian Law 130 issuer) to finance the purchase of NPLs from the Hoist Finance group company Marte SPV S.r.l. The senior notes – representing 95% of the issued amount – were fully subscribed by a fund managed by the global alternative investment manager, CarVal