Hogan Lovells advises Sigla on new “CQS” securitization

International law firm Hogan Lovells has advised Sigla as originator in the new securitization of receivables arising from salary and pension secured personal loans (so-called “CQS” loans) granted by Sigla for an overall amount of around 120 million Euro.
The securitisation was carried out through the issuance of four classes of notes by the securitization vehicle “Civetta SPV S.r.l.” under Italian Law 130/1999. The notes issued have a “partly paid” structure.

Intesa San Paolo acted as arranger and (through its conduit platform) as senior investor.

The Hogan Lovells team was led by capital markets partner Federico Del Monte, supported by counsel Giulia Arenaccio and associate Diego Guardì.

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