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Programmatic issuance

Category: Capital Relief Trades ABS

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UBI Banca completes second CRT

UBI Banca has completed its second-ever capital relief trade, paving the way for more programmatic issuance in the future. Dubbed UBI RegCap2, the €100m financial guarantee references a €2.2bn portfolio of secured and unsecured Italian SME and corporate loans.

According to Simone Tufo, head of capital strategy at UBI Banca: “We intend to proceed with more programmatic issuance, but in the future we will also consider other structuring options to make the transactions more efficient, given the advent of the new Securitisation Regulation.

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