SECURITISATION WITHOUT SECURITIES: LOANS ARE NOT NOTES FOR TAX PURPOSES by Norman Pepe & Fabrizio Occhipinti
In December 2020, the Italian Budget Law for 2021 introduced, in addition to the traditionalasset-backed notes, an alternative funding tool for Italian securitisation vehicles(the “SPVs”).Now SPVs may fund the acquisition of assets in securitisation transactions throughthe proceeds of ad hoc financings in the form of loans advanced by lenders authorised to grantloans in Italy.
Square The Circle contributes periodically to the discussion on the dynamics and complexities of the Italian economic and legal framework as it relates to financial transactions.
Italia