Programmatic issuance continues

Category: Capital Relief Trades ABS


Previous Story       Next Story

Intesa Sanpaolo last month returned to the risk transfer market with another GARC transaction. Dubbed GARC-SME 6, the €120m cash collateralised deal references a €2.5bn Italian SME portfolio.

The Banca IMI-arranged transaction has established Intesa Sanpaolo as a programmatic issuer, being the Italian lender's sixth GARC deal. According to Elisabetta Bernardini, head of credit portfolio management at Intesa Sanpaolo: "With the GARC programme, Intesa Sanpaolo developed a comprehensive framework to optimise the capital absorption profile of the bank's credit portfolio, in line with best practice at international level.

Already registered?

Not yet registered? Join today to access SCI Content.

-