Giuseppe Barra Caracciolo
Giuseppe Barra Caracciolo is an Italian-qualified lawyer with almost 20 years of experience. He focuses his activity in the area of structured credit and lending through securitisation structures. He has worked on a number of securitization transactions including non-performing loans, mortgage loans, SME loans, trade receivables and car loans. He also has extensive experience in banking matters, including general lending, real estate finance, leveraged finance and debt restructuring.
Giuseppe is recognized as a Leading Individual in Banking & Finance and Debt Capital Markets by The Legal 500 2022 and as a highly regarded Banking, DCM and Structured Finance & Securitization lawyer by IFLR1000 2022.
STRUCTURED FINANCE AND NPLs
Giuseppe's practice includes structured products, non-performing loans and other distressed assets transactions. He regularly assists originators, arrangers and investors on a broad range of securitisation transactions of different asset classes, including NPLs, mortgage loans, SME loans, healthcare receivables, consumer loans and leasing.
Giuseppe's extensive banking experience includes advising lenders, sponsors and/or borrowers on real estate financing, acquisition financing (including LBOs) and asset based financing transactions of various nature as well as debt restructuring. Giuseppe also provides regulatory advice on general banking matters.
NPLs and UTPs sale and purchase
UniCredit and Intesa Sanpaolo sale of a US$75 million portfolio to fund Fi.NAV, 2020
Giuseppe advised UniCredit S.p.A. and Intesa Sanpaolo S.p.A. in connection with the sale of a US$75 million portfolio of ship mortgages loans to the alternative fund Fi.NAV., managed by the Irish company Davy Global Fund Management.
Credito Fondiario and Fire purchase of a €698 million NPLs portfolio from MPS, 2019
Giuseppe advised Credito Fondiario S.p.A. and Fire S.p.A. in connection with the purchase of a €698 million non-performing receivables portfolio from Banca Monte dei Paschi di Siena S.p.A. and MPS Leasing & Factoring S.p.A. and in connection with the subsequent securitization transaction.
Goldman Sachs on Credito Fondiario and Elliott’s successful bid to acquire a €7,8 billion NPLs portfolio from Banco BPM, 2019
Giuseppe advised Goldman Sachs, as financial advisor to Credito Fondiario and structuring agent to Elliott, in connection with the successful bid by Credito Fondiario and Elliott to acquire a portfolio of non-performing loans from Banco BPM and the subsequent securitization transaction (GACS eligible).
Banks disposal of a €150 million NPLs portfolio to an international fund, 2019
Giuseppe advised Cassa di Risparmio di Asti S.p.A. and Cassa di Risparmio di Biella e Vercelli – Biverbanca S.p.A., as sellers, in connection with the disposal to an international debt fund of a portfolio of non-performing loans with an aggregate gross book value of approximately €150 million.
Intesa and UniCredit’s platform for the disposal of UtP shipping loans, 2019
Giuseppe advised Intesa Sanpaolo Group and UniCredit S.p.A. in connection with the set-up of a platform for the disposal of UtP shipping loans, through the constitution of an Italian closed-end umbrella alternative investment fund, named “Fi.NAV.”, reserved to professional investors and the disposal of a shipping loans portfolio for a total GBV equal to approximately US$350 million.
Banks disposal of a €697 million NPLs portfolio to Maggese, 2018
Giuseppe advised Cassa di Risparmio di Asti S.p.A. and its subsidiary Cassa di Risparmio di Biella e Vercelli – Biverbanca S.p.A., as originator and notes subscriber, in connection with the disposal of a non-performing loans’ portfolio, comprising ipotecari mortgage loans and unsecured loans, to Maggese S.r.l. for an aggregate total amount of approximately €697 million (GACS eligible).
GWM acquisition of a €91 million NPLs portfolio from FMS, 2018
Giuseppe advised an investment fund managed by GWM on the acquisition from FMS Wertmanagement of sub- and non-performing loan receivables having an aggregate gross book value of €91 million and arising from five real estate loans secured by Italian real estate assets and a UK factory outlet.
A primary investment bank securitization of a €1.2 billion NPL portfolio sold by Banca Carige, 2017
Giuseppe advised a primary investment bank, as senior investor, in connection with the securitisation of €1.2 billion portfolio of non-performing loans sold by Banca Carige S.p.A. to Credito Fondiario S.p.A.
A primary financial institution on the € 2.2 billion securitization of NPLs, UtP loans and leasing receivables, 2017
Giuseppe advised a primary financial institution, as senior lender, in connection with the € 2.2 billion securitization of NPLs, UtP loans and leasing receivables, acquired by Atlante II Fund from Nuova Banche Marche S.p.A., Nuova Banca dell’Etruria S.p.A. and Nuova Cassa di Risparmio di Chieti S.p.A., following the opening of the resolution procedure (procedura di risoluzione) by the Bank of Italy.
Securitization through FinTech CrescItalia Lab Platform, 2020
Giuseppe advised an asset manager of an Italian fund in connection with the securitization, co-arranged by Crescitalia Holding S.r.l. and Zenith Service S.p.A., of trade receivables without recourse, originating from Italian SMEs operating in various sectors, through the innovative platform named “FinTech CrescItalia Lab Platform.
Asset-backed notes issuance for the acquisition of receivables, 2020
Giuseppe advised an international investment fund in connection with the acquisition of receivables deriving from the so called “riserve tecniche”, which have been originated by an Italian corporate entity against an Italian municipality. The Transaction has been funded through the issuance of asset-backed notes entirely subscribed by funds advised by York Capital Management.
Hoist Finance €225 million NPLs portfolio securitization, 2019
Giuseppe advised Hoist Finance in connection with a €225 million securitisation of a portfolio of Italian non-performing, unsecured loans, with CarVal Investors, LLC acting as senior investor.
Cassa di Risparmio di Asti, Cassa di Risparmio di Biella e Vercelli – Biverbanca and UniCredit Bank AG on a €1 billion securitization, 2019
Giuseppe advised Cassa di Risparmio di Asti S.p.A. and Cassa di Risparmio di Biella e Vercelli – Biverbanca S.p.A., as originator and underwriter, and UniCredit Bank AG, as arranger, in connection with a multi-originator securitisation of residential fondiari mortgage loans and ipotecari mortgage loans granted by Cassa di Risparmio di Asti and Cassa di Risparmio di Biella e Vercelli – Biverbanca, with a total value of approximately €1 billion.
Glennmont securitization of performing project finance loans originated by Banca Popolare di Bari, 2019
Giuseppe advised Glennmont Partners, as equity investor, in connection with the securitization of performing project finance loans originated by Banca Popolare di Bari S.C.p.A. This transaction included a €41.830.000 Floating Rate Senior Notes issuance and a €9.642.000 Floating Rate and Variable Return Junior Notes issuance.
Banks’ €1.2 billion restructuring of a multi-originator revolving securitization of loans, 2019
Giuseppe advised Cassa di Risparmio di Asti and Cassa di Risparmio di Biella e Vercelli – Biverbanca, as originator and underwriter, and UniCredit, as arranger, in connection with the approximately €1.2 billion restructuring of a multi-originator revolving securitization of loans issued by the originators to Italian SMEs.
Pitagora and Banca IMI €670 million securitization restructuring, 2018
Giuseppe advised d Pitagora S.p.A., as originator, and Banca IMI S.p.A., as arranger, in connection with the restructuring of a receivables securitization. The receivables were originated by Pitagora. The restructuring was carried out through the issuance of a €670 million unitranche note by the special purpose vehicle Geordie SPV.
Banks on securitizations related to GE Capital Interbanca Group’s acquisition by Banca IFIS, 2016
Giuseppe advised Banca IMI, Citibank and Deutsche Bank, as arrangers and senior notes underwriters, in connection with the refinancing of two portfolios of performing financial leasing and corporate loans of various nature originated by GE Capital Interbanca Group in the context of the acquisition of GE Capital Interbanca group by Banca IFIS S.p.A.
MPS €1.7 billion securitization, 2016
Giuseppe advised Banca Monte dei Paschi di Siena S.p.A., as originator, arranger and sole underwriter in connection with a securitization of a portfolio of loans granted to Italian small and medium-sized enterprises for a total value of around €1.7 billion.
StormHarbour and the junior investor restructuring of a securitisation of SME loans, 2015*
Giuseppe advised StormHarbour, as arranger, and the junior investor in connection with the retranching of the junior notes issued in the context of a securitization of receivables arising from SME loans granted by an Italian bank and the listing of the newly issued mezzanine notes.
A major international bank securitisation programme of CQS loans granted by Mediocredito Europeo, 2015*
Giuseppe advised the senior noteholder in connection with the structuring of a private securitization of receivables arising from personal loans granted by Mediocredito Europeo, an Italian financial intermediary, and secured by the assignment of up to one fifth of the salary or pension (prestiti dietro cessione del quinto dello stipendio) or repayable by way of a delegation of payment (prestiti su delegazione di pagamento).
Real Estate Finance
UniCredit real estate financing for Outlet Shopinn Brugnato 5 Terre, 2020
Giuseppe advised UniCredit S.p.A., as lender, mandated lead arranger and agent, in connection with a €24.6 million real estate refinancing to San Mauro S.p.A. in respect of the shopping mall denominated “Outlet Shopinn Brugnato 5 Terre.
Mediobanca real estate financing for an asset located in Montecarlo, 2020
Giuseppe advised Mediobanca – Banca di Credito Finanziario S.p.A. in connection with the purchase of a portion of the existing commitment under a facilities agreement entered into for the purpose of acquiring a real estate asset located in Montecarlo.
Mediobanca real estate financing for the acquisition of Pirelli’s headquarters, 2018
Giuseppe advised Mediobanca – Banca di Credito Finanziario S.p.A., as original lender and agent, in connection with a term loan facility granted to Kryalos SGR S.p.A., acting as managing company of the close-ended real estate alternative investment fund "Tyre" – Fondo di Investimento Alternativo Immobiliare di Tipo Chiuso Riservato, to finance the acquistion of an office building located in Milan named the HQ1 building, headquarters of Pirelli & C. S.p.A.
UniCredit real estate financing to Immobiliare Elvezia, 2018
Giuseppe advised UniCredit S.p.A., as lender and agent, on a real estate financing to Immobiliare Elvezia S.r.l., a company owning a real estate complex for office use located in Monza (North Italy).
UniCredit Leasing sale of Eni’s headquarters, 2017
Giuseppe advised of UniCredit Leasing in connection with the sale of V Palazzo Uffici, headquarters of energy company Eni, to Pegasus, a real estate alternative capital fund managed by Kryalos SGR.
Leading Individual: The Legal 500 EMEA 2022
Highly regarded: IFLR1000 2022
Capital markets: Debt
Leading Individual: The Legal 500 EMEA 2022
Highly regarded: IFLR1000 2022
Capital markets: Structured finance and securitization
Highly regarded: IFLR1000 2022