Multi-originator GACS deal debuts

Category: NPLs ABS

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Iccrea Banca completes landmark NPL securitisation

Iccrea Banca, the cooperative group owned by multiple Italian mutual banks, has issued a €1bn NPL securitisation of primarily secured loans. Dubbed BCC NPLs 2018, the deal is the first multi-originator GACS securitisation, as smaller Italian banks group together to offload the risk of larger NPL portfolios (SCI 29 June).

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