Securitisation & Structured Solutions
Banca Akros in the new Consumer Credit securitisation of €1.15 billion originated by Agos Ducato S.p.A.
Banca Akros assisted Agos Ducato S.p.A. as Joint Arranger
The following is a brief description of the new securitisation of performing consumer loans (Sunrise 2020-1), originated by Agos Ducato S.p.A. and issued on 10 June 2020.
- Banca Akros acted as Joint Arranger for Agos Ducato S.p.A in the structuring of the Sunrise 2020-1 securitisation.
- This is the third consumer credit securitisation concluded by Agos Ducato S.p.A. under the new STS (Simple, Transparent and Standardised) rules.
- Agos Ducato S.p.A. sold a portfolio of performing consumer loans amounting to approximately €1.15 billion to the special purpose vehicle Sunrise SPV Z90, which financed the purchase through the issue of three classes of ABS securities: Class A, amounting to €778,300,000, and Classes B and M were fully subscribed by the originator.
- Class A is rated AA(h) and AA- by DBRS and Fitch, respectively.
- The transaction is part of the funding strategy of Agos Ducato S.p.A., as a form of funding that leads to a diversification of sources of financing and makes the funding activity stable and efficient.
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