Securitisation & Structured Solutions
Banca Akros particpates in the new Consumer Credit securitisation of Euro 1.4 billion originated by Agos Ducato SpA
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 2021-1), originated by Agos Ducato SpA and issued on 29 March 2021.
- Banca Akros acted as Joint-Arranger for Agos Ducato SpA in the structuring of the Sunrise 2021-1 securitisation;
- This is the fourth consumer credit securitisation concluded by Agos Ducato SpA under the new STS (Simple, Transparent and Standardised) rules;
- Agos Ducato SpA sold a portfolio of performing consumer loans worth approximately Euro 1.4 billion to the special purpose vehicle Sunrise SPV 92, which financed the purchase through the issue of six classes of ABS: Class A, amounting to Euro 944,100,000, and Classes B, C, D, E and M were fully subscribed by the originator;
- Class A is rated AA(h) and AA- by DBRS and Fitch, respectively;
- The transaction confirms the importance of securitisation as a funding tool for the originator, allowing an expansion of funding sources and making the funding activity stable and efficient.
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