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Siena NPL 2018 S.r.l.: 15 May 2018

Another transaction collateralised by a mixed pool of Italian non-performing residential, commercial and unsecured loans, on this occasion having been originated by Banca Monte dei Paschi di Siena S.p.A., MPS Capital Services Banca per le Imprese S.p.A. and Monte dei Paschi di Siena Leasing.

At the cut-off date (30 September 2017) the static portfolio consisted of 547,893 loans advanced to 80,050 borrowers, where the Gross Book Value (GBV) per borrower is Eur300,710, and the GBV per loan is Eur43,935. Overall the GBV of the loan pool is approximately Eur24.1bln.

Pool information: The portfolio is highly granular by borrower. The largest borrower accounts for just 0.31% of GBV; the top five borrowers for 1.33% of GBV and the top ten borrowers account for 2.21% of GBV. Regional distribution (by OMV): Tuscany - 17.8%, Veneto - 10.6% and Campania - 10.1%.

Compare/contrast: Fino 1 Securitisation S.r.l, Sagrantino Italy S.r.l