ISTRUZIONI PER ATTIVAZIONE E LOGIN
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Securitisation activity consists in the sale of receivables capable of generating multi-year cash flows to a company specifically created pursuant to Law 130 of 30 April 1999 (‘special purpose vehicle’ or ‘SPV’), which issues and sells bond-type financial instruments (called ‘asset-backed securities’ or ‘ABS’) to institutional investors. With the proceeds of the issue, the SPV pays the purchase price of the receivables to the seller company.
The transfer of receivables does not actually entail any changes for customers, as the management of banking relations remains at the branch of reference, leaving the conditions, characteristics and sending of the receivables notices completely unchanged.
Since 2009, Cassa di Risparmio di Bolzano has periodically carried out securitisation transactions, the securities of which bear the name ‘Fanes’.
It currently has two securitisation transactions in place, one with a portfolio of residential mortgages as underlying asset and one with a portfolio of mortgages granted to small and medium-sized enterprises.
Fanes Srl securitised a portfolio of mortgage and/or unsecured loans granted to small and medium-sized enterprises that were sold by Cassa di Risparmio di Bolzano S.p.A. in May 2020 for a total amount of EUR 748.883 million. The securitization was increased by an additional 333.38 million euros in June 2022. The transaction comprises two tranches, one senior and one junior.
The characteristics of securities at the time of issue:
Quarterly Servicer’s Report
Fanes Srl securitised a portfolio of residential mortgages that were sold by Cassa di Risparmio di Bolzano S.p.A. in April 2018 for a total amount of EUR 507.215 million. The transaction comprises three tranches, two senior tranches as well as one junior tranche.
The bonds were issued on 18th June 2018.
Quarterly Servicer's Report
Servicing Agreement and Intercreditor Agreement
Fanes S.r.l. securitised a portfolio of residential mortgages that were sold by Cassa di Risparmio di Bolzano S.p.A. in July 2014 for a total amount of EUR 525.10 million. This securitisation was increased by a further EUR 891.70 million in November 2016. The transaction comprises two tranches, one senior and one junior.
The bonds were issued on 31 July 2014, the increase took place on 29 November 2016 and the redemption on 29 July 2022.
The characteristics of the securities immediately after the issue increase:
Fanes S.r.l. securitised a portfolio of residential mortgages and corporate loans that were sold by Cassa di Risparmio di Bolzano S.p.A. for a total amount of €580.30 million.
The bonds were issued on 31st July 2014, and redemption took place on 30th April 2018.
Fanes S.r.l. securitised a portfolio of residential mortgages and corporate loans that were sold by Cassa di Risparmio di Bolzano S.p.A. for a total amount of EUR 489.95 million.
The bonds were issued on 28th July 2009, and redemption took place on 31st October 2016.
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