Agos Ducato SPA: sixth “STS” securitisation of Consumer Loans for € 1.2 billion (Sunrise 2022-1)
New securitisation of performing consumer loans (Sunrise 2022-1), originated by Agos Ducato S.p.A. and issued on 28 March 2022.
This is the sixth consumer credit securitisation concluded by Agos Ducato S.p.A under the new STS (Simple, Transparent and Standardised) framework.
Banca Akros acted as Joint Arranger.
Agos Ducato S.p.A. sold a portfolio of performing consumer loans worth approximately Euro 1.2 billion to the special purpose vehicle Sunrise SPV 94, which financed the purchase through the issue of six classes of ABS: Class A, amounting to Euro 809,700,000, and Classes B, C, D, E and M were fully subscribed by the originator.
Class A, suitable for ECB eligibility, is rated AA(h) and AA by DBRS and Fitch, respectively.
Even in times of tension on the financial markets, the transaction confirms the importance of securitisation as a flexible funding tool for the originator, providing stable and efficient funding.
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