NPL issuance surging

Category: NPLs ABS

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Italian lenders look to beat GACS deadline

Banco di Sardegna has completed a €253m non-performing loan securitisation called 4Mori Sardegna, the senior notes of which are expected to be granted a GACS guarantee. The transaction features high credit enhancement levels for the senior and mezzanine notes and it is the latest in a slew of GACS issuance aiming to beat the expiration of the Italian government guarantee in September.

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