MyCredit securitizes 190 million NPL loans

My Credit Spa, a company specialising in the valuation of NPL and UTP Secured assets and portfolios, acted as Arranger and Noteholder in the new securitisation of Brenta SPV. The transaction also saw the participation of Gardant – through its subsidiary Master Gardant S.p.A. – in the role of Servicer, Corporate Services Provider, Paying Agent, Calculation Agent and Representative of the Noteholders. The securitisation is backed by impaired loans, largely secured by mortgages, sold by a leading banking group with the participation of 27 banks in the group, as well as loans sold by another securitisation vehicle, with underlying collateral consisting of over 1,000 real estate assets. For the legal aspects, My Credit was assisted by Andersen with lawyers Marco Giorgi and Andrea Ferrandi; Master Gardant S.p.A. was assisted by Eversheds Sutherland with lawyers Umberto Mauro and Rossella Severi ‘We are particularly pleased with the completion of this transaction, which was entirely structured by the MyCredit team together with all the partners mentioned above who provided their support: an important milestone for the growth of our group, which is firmly positioned in the non-performing real estate market,’ said Mirko Tramontano, CEO of MyCredit. ‘This transaction confirms the centrality of master servicing and securitisation services in the Gardant Group's strategy, which aims to offer its partners the widest range of high value-added services and solutions in the world of credit and related capital market structures,’ said Paolo Peruzzetto, Head of Business Development at Gardant. The news is available not only in the attached review, but also Financommunity Legalcommunity Dealflower Credit Village Monitor Immobiliare Trader link Requadro NTPlus Global Legal Chronicle