BNP Paribas acts as arranger and senior investor on securitization of consumer loans originated by Younited Credit in Italy

Client(s) BNP Paribas

Jones Day acted as reviewing counsel to BNP Paribas, as arranger and senior investor, in connection with the acquisition by M&G Specialty Finance (Luxembourg) No.1 S.à r.l., a Luxembourg investment vehicle managed by M&G Investment Management Limited, of consumer credit portfolios originated by Younited Credit S.A., Italian Branch, for a total maximum value of approximately €300 million. The transaction involves the sale of an initial portfolio and additional portfolios of receivables, on a revolving basis, to a special purpose vehicle set up in accordance with Law 130/99. The junior securities issued as part of the securitization platform were underwritten by M&G Specialty Finance (Luxembourg) No.1 S.à r.l. whilst Matchpoint Finance Plc, a BNP Paribas conduit, underwrote the senior securities. (Younited Credit securitization - 2021)