Skip to main content

Banca Akros Joint Arranger in the new securitisation of Leasing Receivables of €1.26 billion originated by Alba Leasing S.p.A.

Banca Akros acted as Joint Arranger

The following is a brief description of the new securitisation of receivables arising from performing lease contracts (Alba 11 SPV S.r.l.), originated by Alba Leasing S.p.A. and issued on 25 June 2020.

  • Banca Akros acted as Joint Arranger for Alba Leasing S.p.A in the structuring of the Alba 11 SPV S.r.l. securitisation.
  • This is the first securitisation of leasing receivables concluded by Alba Leasing S.p.A. under the new Simple, Transparent and Standardised (STS) rules.
  • Alba Leasing S.p.A. sold a portfolio of receivables from performing lease contracts amounting to approximately €1.26 billion. The portfolio sold is representative of Alba Leasing’s production mix in the capital goods (56.6%), automotive (20.2%) and real estate (22.3%) sectors, with a high level of granularity and geographical diversification.
  • In order to finance the purchase of the portfolio, SPV issued 5 classes of securities (Senior, Mezzanine and Junior) which, at the time of issue – with the exception of Class A2 and part of Classes B and C purchased from the EIB (European Investment Bank) for a total of €443.6 million – were subscribed by the Originator.
  • Class A1 is rated Aa3, AAA and AAA and Class A2 is rated Aa3, AAA and AA by Moody’s, DBRS and Scope, respectively.
  • Thanks to this securitisation, Alba Leasing obtained medium-term funding that will be used for new loans to support investments by small and medium-sized Italian companies over the next two years.
  • The operation forms part of the ENSI (EIF-NPIs Securitisation Initiative), a “Juncker” platform of cooperation between the EIB, the EIF and the National Promotion Institutions that aims to stimulate access to credit for SMEs via the capital market.
Securitisation & Structured Solutions
Banca Akros
Securitisation & Structured Solutions


Advertising message for promotional purposes. For the economic and contractual conditions, please refer to the information sheets available at the bank’s branches and on the website in the Transparency section.