ISTRUZIONI PER ATTIVAZIONE E LOGIN
Info ISI-ID / ISI-KEY
WebPOS
SIA Virtual POS
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 ‘RMBS’) 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 mortgages 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 mortgage 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 three securitisation transactions in place, two of which have a portfolio of residential mortgages as underlying assets and one 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 Increditor 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.
In order to access the information and documents published on this web page and in the sections of the site that follow, it is necessary to carefully read and accept the information set forth below and to make the declaration at the foot of the page, which is required for this purpose. This information and documents are for informational purposes only and in no way constitute an offer to sell or a solicitation or recommendation to invest. The user is not permitted to copy, modify, publish or disseminate the same. The above information and documents do not constitute or form part of an offer to sell financial instruments or a solicitation or offer to buy financial instruments in the United States of America, Canada, Australia, Japan and any other country in which the dissemination of such information and the offer of the instruments referred to therein is not permitted without specific authorisations from the competent local authorities or in violation of local rules and regulations (the “Other Countries”). The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended and supplemented, nor under the regulations in force in the Other Countries. Access to the information, prospectuses and other documents published on this web page and in the sections of the site that follow may be precluded pursuant to the laws and regulations governing securities applicable in certain countries. Such access is, therefore, permitted only to persons who are not resident, domiciled, or otherwise presently located in the United States of America, Canada, Australia, Japan or the Other Countries, and who are not, nor are they acting on behalf of or for the benefit of, a United States Person as defined in Regulation S of the United States Securities Act of 1933, as amended. Only persons who meet the above requirements may have access to the information and documents contained on this web page and in the sections of the site that follow. The possibility of accessing and downloading the aforementioned information is therefore precluded to subjects other than those indicated above. Cassa di Risparmio di Bolzano S.p.A. is in no way responsible for the investment decisions taken independently by the user on the basis of the information and documents published on this web page and in the sections of the site that follow. I declare, under full responsibility, that I am not resident, domiciled, or currently located in the United States of America, Canada, Australia, Japan or in the Other Countries, and that I am not acting on behalf of or for the benefit of a United States Person as defined in Regulation S of the United States Securities Act of 1933, as amended and supplemented. I further declare that I have read, understood, accept and comply with the above restrictions and undertake not to transmit to the United States of America, Canada, Australia, Japan or the Other Countries any information and documentation published through this website.
