White & Case Advises UniCredit on Restructuring of €1.2 Billion Multi-Originator Revolving Securitization of SME Loans

Global law firm White & Case LLP has advised Cassa di Risparmio di Asti S.p.A. and Cassa di Risparmio di Biella e Vercelli – Biverbanca S.p.A., as originators and underwriters, and UniCredit Bank AG as arranger, on the approximately €1.2 billion restructuring of a multi-originator revolving securitization of fondiari mortgage loans, ipotecari mortgage loans and unsecured loans issued by the originators to Italian SMEs.

The restructuring involved, among other things, the extension of the revolving period during which the securitization vehicle may purchase further portfolios of receivables from the originators, and the adoption of certain other structural amendments.

The White & Case team in Milan which advised on the transaction was led by partner Gianluca Fanti and local partner Giuseppe Barra Caracciolo, and included associate Francesco Scebba and lawyer Ioana Gaga.

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