Nctm in the securitisation of Factor@Work trade receivables worth 100 million Euro subscribed by Banco BPM
Nctm Studio Legale has dealt with the legal aspects of the securitization of performing trade receivables acquired through FinTech platforms subscribed by Banco BPM.
The transaction provides for the rotary assignment of trade receivables to FAW 3 SPV, the securitization vehicle specifically set up pursuant to Law 130/1999, which issued a single class of securities for 100 million Euro.
In the transaction, Zenith Service acted as Master Servicer while Factor@Work was appointed as Portfolio Manager.
The Nctm team dealing with the contractual aspects of the transaction was composed of partners Eugenio Siragusa and Matteo Gallanti, assisted by Bianca Macrina and Lucia Vittoria Lonoce and Luca Ferrari Trecate for the tax aspects.