Leviticus SPV S.r.l.: 14 February 2019
This will be the second Italian NPL transaction from originator Banco BPM S.p.A, who again continue with a biblical / Middle Eastern theme regarding the name of the transaction (The Book of Leviticus is the third book of the Torah and of the Old Testament - Ed).
As per the previous transaction, this is a static cash securitisation portfolio of 49,397 loans, and on this occasion at the cut-off date (30 June 2018) is worth around EUR 7,385m by gross book value. Loan breakdown by status / % of GBV: Secured 15,148/50.5%, unsecured 32,357/43.9%, junior lien 1,892/5.6%. Obligor type: corporate 85.3%, individual 14.7%. Obligor concentration: top 10 – 5.4%, top 100 – 20.3%. Regional concentration: North 73.0%, Centre 16.2%, South & islands 10.8%
Compare/contrast: Red Sea SPV S.r.l.