Riccardo Verzeletti is an associate in the Milan office and his practice focuses on general lending, structured finance transactions as well as public and private securitisation transactions of different asset classes. He has also worked on various disposals of non-performing loans and other distressed assets (portfolios and single names).
Prior to joining White & Case Riccardo was an associate at another major international law firm.
Non-performing portfolio sales and acquisitions
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.
doBank S.p.A. in connection with the €17.7 billion disposal of three non-performing loan portfolios originally owned by UniCredit S.p.A.
Oak Hill Advisors (Europe), LLP in connection with the bid and acquisition of an Italian portfolio of non-performing financial lease receivables together with the relevant leased assets and contracts for a total value of €1.7 billion.
UniCredit in connection with the successful disposal of secured and unsecured non-performing shipping loans owned vis-à-vis an Italian shipping company to a primary international investment bank, for a total value of around USD 45 million.
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 represents the first securitization in the renewable energy sector and included a €41.830.000 Floating Rate Senior Notes issuance and a €9.642.000 Floating Rate and Variable Return Junior Notes issuance.
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. The €7.8 billion NPL portfolio has been sold to an Italian securitization vehicle and securitized through the issuance of various tranches of asset-backed securities.
Pitagora S.p.A., as originator, and Banca IMI S.p.A., as arranger, in connection with a securitisation of receivables, originated by Pitagora and assisted by the assignment of up to one fifth of the borrowers’ salary or pension or by payment delegation, for a total value of €525 million.
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 investment bank, 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.
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 a multi-originator revolving securitisation of fondiari mortgage loans, ipotecari mortgage loans and unsecured loans issued by Cassa di Risparmio di Asti and Cassa di Risparmio di Biella e Vercelli – Biverbanca to Italian SMEs, for a total value of around €1.2 billion.
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 relation to its acquisition by Banca IFIS S.p.A.
Crédit Agricole Corporate and Investment Bank in connection with a margin loan in favour of a primary luxury company for a maximum amount of €170 million.
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 acquisition of the HQ1 building, headquarters of Pirelli & C. S.p.A. in Milan.
UniCredit S.p.A., as lender and agent, in connection with the €14.2 million real estate financing to Immobiliare Elvezia S.r.l., a company owning a real estate complex for office use located in Monza (North of Italy).