Zenith service in the first Italian public securitization “STS” of Agos Ducato S.p.A.

Zenith Service S.p.A. (“Zenith”) is pleased to announce its participation in the first public securitization in Italy structured as “Simple, Transparent and Standardized” (“STS“) pursuant to the European Regulation n. 2017/2402 concerning consumer loans of Agos Ducato S.p.A. for a value of Euro 1,1 billion.

Zenith took care of the profiles related to the setup and management of the vehicle company “Sunrise SPV Z70 S.r.l.” and issued the first Pool Audit pursuant to art. 22, paragraph 2, of the European Regulation and of the EBA guidelines on the STS criteria.

The asset-backed securities have been issued in three classes: Senior for Euro 756 million, Mezzanine for Euro 215,7 million and Junior for Euro 139,3 million and are collateralised by a portfolio of consumer loans originated by Agos Ducato S.p.A. Senior securities, rated by DBRS Ratings Ltd and Fitch Italia SpA, have been placed to institutional investors.

 The transaction was structured by Crédit Agricole Corporate & Investment Bank Milan branch and Banca Akros S.p.A. Banco BPM Group as Joint Arrangers.