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Sunrise Srl 2017: 28 March 2017


As per previous Sunrise transactions, the primary source for the payment of interest and the repayment of principal under the notes will be collections made in respect of consumer loan receivables and connected rights due under consumer loan agreements and personal loan agreements granted to the debtors thereunder by Agos SpA.

Eligibility for inclusion in the pool (includes): the receivables are denominated in Euro; the relevant Consumer Loan Agreements are governed by Italian law; the loans provide for a prearranged amortising plan; all debtors have made timely payments of the first and second instalments; the receivables have a fixed interest rate; no debtor has had payment obligations vis a vis Agos classified as defaulted receivables, none of the receivables has any instalment due and unpaid.

The portfolio consists of 181,029 contracts, where the average outstanding principal is Eur7,175 and the largest contract is for just Eur69,940. WA seasoning is 17.4 months. Pool distribution:

Pool.............................O’standing Principal...O’standing Principal %....No.of contracts...No.of contracts %
New Vehicles....................143,321,806.................11.03%..........................34,011.....................18.79%
Used Vehicles....................97,369,351...................7.50%.............................9,052........................5.00%
Personal Loans..................974,638,360................75.03%..........................62,660......................34.61%
Furniture Loans..................36,405,448...................2.80%...........................17,648......................9.75%
Other Loans…....................47,326,780................... 3.64%...........................57,658......................31.85%

CRR/405: Agos will retain a material net economic interest of at least 5% in the securitisation in accordance with Article 405 of the CRR and Article 51 of the AIFMR. As at the Issue Date, such interest will be comprised of an interest in the Junior Notes which is not less than 5% of the nominal value of the securitised exposures, in accordance with option (d) of Article 405 of the CRR.


Compare / contrast: Sunrise Srl 2016-2