Hoist Finance has received commitment from a CarVal Investors fund for an unrated securitisation
Hoist Finance has transferred, on a non-recourse basis, an Italian portfolio of EUR 225m of non-performing unsecured monetary receivables (NPL) to a newly established Italian securitisation company (SPV) under article 3 of Italian law no. 130 of 30 April 1999, in connection with the set-up of an unrated securitisation. The SPV will fund 95% of the net purchase price of the receivables via senior notes and the remaining 5% via issuance of junior notes. A fund managed and advised by CarVal Investors, LLC, a global alternative investment manager, has committed to subscribe for the senior