Sunrise SPV Z80 (2019-2): 02 November 2019
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 Ducato S.p.A. (the Originator).
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 141,808 contracts, where the average outstanding amount per borrower is Eur8,082 and the largest contract is for just Eur67,935. WA seasoning is 10.62 months. Pool distribution:
Pool.............................O’standing Principal...O’standing Principal %....No.of contracts...No.of contracts %
New Vehicles.................162,060,484............. ... 14.14%.................... .....23,887....... ..........16.84%
Used Vehicles............. 64,260,682............... .. 5.61%...................... . ...7,438....................5.25%
Personal Loans........... 857,741,154................ 74.83%..................... ....67,484..................47.59%
Furniture Loans............. 47,915,989................. .4.18%..........................25,324..................17.86%
Other Loans….......... ... 14,246,132.................. .1.24%..........................17,675..................12.46%
STS: The Securitisation is intended to qualify as a simple, transparent and standardised securitisation within the meaning of Article 18 of Regulation (EU) no. 2402 of 12 December 2017. Consequently, the Securitisation meets, as at the date of the Prospectus, the requirements of Articles 19 to 22 of the EU Securitisation Regulation and has been notified by the Originator to be included in the list published by ESMA referred to in Article 27 paragraph 5 of the EU Securitisation Regulation.
EU Risk Retention: Agos, in its capacity as Originator, has undertaken that it will retain, on an on-going basis, a material net economic interest of not less than 5% in the Securitisation, in accordance with option (a) of Article 6 paragraph 3 of the EU Securitisation Regulation and the applicable Regulatory Technical Standards.
Compare/contrast: Sunrise SPV Z70 (2019-1), Autoflorence 1 SRL, Marzio Finance Srl 7-2019