Asti Group PMI S.r.l.(2017): 17 March 2017
The proceeds of the issue of the notes will be applied to fund the purchase of a pool of monetary claims and other connected rights arising from two initial portfolios of (i) fondiari mortgage loans (mutui fondiari), (ii) ipotecari mortgage loans (mutui ipotecari) and (iii) unsecured loans (mutui chirografari) granted by the Originators.
The portfolio will comprise of 9,292 loans (CR Asti - 6,572 loans, BiverBanca – 2,720), where the average current principal balance is Eur127,566 and the largest is for Eur11.295mln. Of the 9,292 loans, some 6,632 are unsecured. Borrower type (by current balances): SME Corporate – 87.7%, Corporate – 12.1%, Others – 0.2%. Borrower concentration: top 1 – 1.6%, top 3 - 3.5%, top 10 – 8.2%. Interest rate type: Floating 88.0%, fixed 12.0%. The WA seasoning is 3.9 years. Regional concentration: Northern Italy 98.2%, Central 1.5%, South 0.3%.
CRR 405: Each of the Originators will retain a material net economic interest of at least 5% in the Securitisation in accordance with Article 405, paragraph 1, letter (d) of EU Regulation No. 575/2013, Article 51 of Commission Delegated Regulation No. 231/2013, and Article 254, paragraph 2, letter (d) of the Commission Delegated Regulation (EU) 2015/35 of the European Parliament and of the Council. As at the Issue Date, such interest will comprise an interest in the Junior Notes.
Compare/contrast: Asti PMI ABS S.r.l, Valsabbina SPV 1 S.r.l (2016)