Francesco Scebba

Securitizations

Goldman Sachs on Casavo's €150 million debt financing, 2021
Francesco advised Goldman Sachs in connection with Casavo's €150 million debt financing carried out through the structuring of a financing and securitisation program. Finint acted as servicer and corporate servicer of the securitisation program. Casavo will also act as asset manager of the financed properties and agent in the context of the overall financing program.

Goldman Sachs on a senior financing granted through a synthetic securitisation of CQS loans, 2021
Francesco advised Goldman Sachs International in connection with a senior financing granted through a synthetic securitisation of CQS loans.

International investment funds on a securitisation subscribed by a York entity, 2020
Francesco advised international investment funds in connection with a securitisation transaction involving the subscription by a York entity of €22,368,000 asset backed floating rate and variable return notes due December 2040 under articles 1 and 5 of Law 30 April 1999, No. 130, issued by an Italian SPV in order to finance the acquisition of a portfolio of secured and unsecured non-performing receivables vis-à-vis a number of debtors which are subject to bankruptcy proceedings.

An international investment fund on a securitisation subscribed by York Capital Management, 2020
Francesco 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 (Project Sicily). The Transaction has been funded through the issuance of asset-backed notes entirely subscribed by funds advised by York Capital Management.

Securitization through FinTech CrescItalia Lab Platform, 2020
Francesco 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.

Pitagora on a €270 million securitization, 2019
Francesco advised Pitagora S.p.A., as originator, Banca IMI S.p.A., as arranger and an Italian bank, as initial underwriter, in connection with a securitization of receivables, originated by Pitagora S.p.A. and backed by the assignment of up to one fifth of the borrowers' salary or pension, for a total value of €270 million.

Hoist Finance €225 million NPLs portfolio securitization, 2019
Francesco 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
Francesco 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 Partners on a securitization of performing project finance loans, 2019
Francesco 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 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.

A primary investment bank on a €1.2 billion securitization, 2018
Francesco 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.

doBank on a €17.7 billion NPLs portfolios securitization, 2017
Francesco advised doBank S.p.A., as master servicer and special servicer, in connection with the securitisation of € 17.7 billion portfolio sold by UniCredit S.p.A. to Fortress and PIMCO.

Banca IMI on a €460 million securitization, 2017
Francesco advised Banca IMI S.p.A. as arranger in connection with the securitisation of a portfolio of receivables arising out of fondiari mortgage loans, ipotecari mortgage loans and unsecured loans originated by Farbanca S.p.A. for a total nominal value of €460 million.

Banks on securitizations related to GE Capital Interbanca Group's acquisition by Banca IFIS, 2016
Francesco advised Banca IMI, Citibank and Deutsche Bank, as arrangers and senior notes underwriters in connection with the securitization of (i) a €488 million portfolio of performing financial leasing and (ii) a €405 million portfolio of performing corporate loans of various nature, both originated by GE Capital Interbanca Group in relation to its acquisition by Banca IFIS S.p.A.

NPLs and UTPs sale and purchase

A pool of banks on the setting up of the €600 million RSCT Fund, 2020
Francesco advised UniCredit S.p.A., Intesa Sanpaolo S.p.A., BPER Banca S.p.A., Crédit Agricole Italia S.p.A., Crédit Agricole FriulAdria S.p.A. and other primary Italian banks, as originators and initial unitholders, in connection with the setting up of RSCT Fund (Responsible & Sustainable Corporate Turnaround Fund), being an innovative €600 million closed-ended alternative investment fund reserved to professional investors with a focus on unlikely-to-pay (UTP) corporate exposures.

UniCredit's sale of €155 million NPLs to IFIS NPL, 2020
Francesco advised UniCredit S.p.A. in connection with the disposal on a non-recourse basis (pro-soluto) to IFIS NPL S.p.A. of three non-performing portfolios of unsecured receivables in an aggregate gross amount of approximately €155 million.

UniCredit and Intesa Sanpaolo's sale of a US$75 million portfolio to fund Fi.NAV, 2020
Francesco 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.

Intesa Sanpaolo Group and UniCredit's sale of a US$350 million NPLs portfolio, 2019
Francesco 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 around US$350 million.

GWM's acquisition of a €91 million sub- and NPL receivables, 2018
Francesco advised an investment fund managed by GWM in connection with 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.