Milan-listed Banco BPM closed the first of the three tranches that scheduled for a securitization programme for real estate assets that announced in September 2024 (see here a previous post by BeBeez). The securitization involves a portfolio of more than 330 real estate assets with a 295 million book value. Zenith Global, the credit servicer of UK’s Arrow Global, set the vehicle that attracted a senior credit facilty of up to 260 million from Banca BPM and issued mezzanine and junior partly-paid notes that SPF Investment Management and Phoenix Asset Management (PAM – a company of which PIMCO and the founder Steve Lennon have a stake) acquired. PAM also acts as real-estate asset manager. Umberto Rasori is the ceo of Zenith Global.
Milan-listed real estate developer and alternative assets manager Borgosesia aims to raise 30 million euros for carrying on a securitization through BGS Securities (see here a previous post by BeBeez). The transaction is part of Basket Loans Program which has a total fundraising target of 100 million to invest in NPEs coming from special situation & opportunities, bonds, mezzanine financing facilities, or bridge loans. Borgosesia aims to have asset under management worth 240 million.
Riello Investimenti said to BeBeez that it subscribed to a 5 million euros bond that CO-VER Power Technology issued for financing M&A transactions and organic growth (see here a previous post by BeBeez). Gianni&Origoni assisted Riello while AFPC advised CO-VER and Loan Agency Services acted as issuing and calculation agent. Alberto Lampertico is the investment director private Debt of Riello Investimenti.
