Banca Akros and Banco BPM in a commercial credit securitization

Bernasconi Martinelli Alippi & Partners assisted Banca Akros (in the role of arranger) and Banco BPM (in the roles of senior investor, account bank and sponsor) in the structuring of a securitization transaction involving trade receivables originating from a primary player operating in the sector of commercialization of steel and other non-ferrous materials to its customers in various European jurisdictions.

The Swiss law aspects of the transaction were handled by Bernasconi Martinelli Alippi & Partners with a team consisting of partner Fabio Alippi (pictured) and associates John Dell’Oro and Tania Naef.

Jones Day assisted Banca Akros as arranger and Banco BPM as senior investor, sponsor and account bank for the Italian law aspects of securitization.

The internal legal offices of Banca Akros and Banco BPM were also involved in the transaction.

In the context of the transaction, Zenith Service acted in the roles of master servicer, representative of the security holders, calculation agent, portfolio agent and corporate servicer, while The Bank of New York Mellon SA / NV, Milan Branch acted as paying agent of the securitization.

For further details about the Italian legal counsel click here