White & Case Advises UniCredit on €1 Billion Multi-originator Securitisation of Residential Loans Originated by Cassa di Risparmio di Asti and Biverbanca

Global law firm White & Case LLP has advised UniCredit Bank AG, as arranger, and Cassa di Risparmio di Asti S.p.A. and Cassa di Risparmio di Biella e Vercelli – Biverbanca S.p.A., as originator and underwriter, on a multi-originator securitization, with a total value of approximately €1 billion, of residential fondiari mortgage loans and ipotecari mortgage loans granted by Cassa di Risparmio di Asti and Cassa di Risparmio di Biella and Vercelli – Biverbanca.

The Class A Notes issued by Asti Group RMBS II S.r.l., for an aggregate principal amount of €825 million, have been listed on the Luxembourg Stock Exchange.

The transaction is the first securitisation to be carried out by Cassa di Risparmio di Asti Group in accordance with the new EU requirements regarding simple, transparent and standardized securitisations (“STS”). Prime Collateralised Securities UK Limited has been appointed as a third party in charge of verifying the transaction’s compliance with the new STS requirements.

The White & Case team in Milan which advised on the transaction comprised partner Gianluca Fanti, together with local partner Giuseppe Barra Caracciolo and associates Francesco Scebba, Rocco De Nicola and Riccardo Verzeletti.

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