IBL Banca issues Series 15 asset-backed securities for €495 million co-arranged by UniCredit Bank GmbH

Client(s) IBL Istituto Bancario del Lavoro S.p.A. and UniCredit Bank GmbH

Jones Day advised IBL Banca and UniCredit Bank GmbH, as co-arrangers, in connection with the issuance of Series 15 of asset-backed securities under the securitization program having a total maximum amount of €10 billion, launched by IBL Banca in 2017 through the special purpose vehicle Marzio Finance S.r.l. The asset-backed securities of the fifteenth series was issued for a total amount of approximately €495 million. The Class A Securities were rated by Moody's and Fitch, listed on the Luxembourg Stock Exchange, and were placed on the market. In contrast, the Class J Securities did not obtain ratings, nor were they listed. IBL Banca and UniCredit Bank GmbH acted as co-arrangers. UniCredit Bank GmbH and Intesa Sanpaolo (IMI CIB Division) acted as joint lead managers with respect to the Class A Securities. The issuance was structured in accordance with Law 130/1999 (the securitization legislation) and in compliance with the "simplicity," "transparency," and "standardization" (STS) requirements of European regulations (EU Reg. 2017/2402). Prime Collateralised Securities (PCS) EU SAS acted as a third party verifier of these requirements.