An undisclosed pool of banks securitized through a syndication part of the financing that KKR and its coinvestors received for acquiring NetCo, the infrastructure network of Milan-listed TIM, A&O Shearman, the lenders advisor and Legance, which is assisting the borrowers, said (see here a previous post by BeBeez). The asset-backed notes attracted the resources of institutional investors. Gazzetta Ufficiale, the official bullettin of the Italian Government, reported that Unicredit sold to Optics spv all the credits that provided on 29 July, Monday, through a 150 million euros Facility B2 Loan to KKR. On 3 August, Saturday, the bulletin, also reported that Credit Agricole Corporate and Investment Bank, Milan Branch sold a total of 200 million euros B2 Loan facility maturing on 29 June 2029 to Optics spv.
Banco BPM said it sold a portfolio of more that 330 reale estate assets with a book value in the region of 295 million euros through a multi-tranche securitization (see here a previous post by BeBeez). Phoenix Asset Management, a company in which PIMCO holds a stake, and SPF Investment Management, will invest in the securitization through a special purpose vehicle. Banco BPM will buy the senior notes and will sell the assets for a fair value. Phoenix will acquire the mezzanine and junior notes. Giuseppe Castagna is the ceo of BPM that retained Alantra and Chiomenti as advisor.
A subsidiary of Abu Dhabi Investment Authority (ADIA), a firm with aum worth 993 billion US Dollars, invested in Mediobanca‘s alternative credit vehicle Polus Capital Management, based in London and New York (see here a previous post by BeBeez). Polus aims to manage assets worth 5 billion in the fields of secondary market transactions in special situations, bonds and credits. The fund set a target for a total of 11 billion aum for leveraged credit and structured credit. Hamad Shahwan Al-Dhaheri is an executive director of ADIA’s Private Equities Department. Nicholas Chalmers is the chief executive officer of Polus.
