Italy’s private debt, distressed assets and NPLs weekly roundup. News from Crédit Agricole, Cassa Centrale Banca, Carige, AMCO, Back2Bonis, Italtel, Cdp, Fenera & Partners, ACP sgr, Casavo, Credimi and more

Crédit Agricole Friuladria, Credit Agricole Italia and Credito Valtellinese securitised a portfolio of NPLs with a gross value of 1.834 billion euros (see here a previous post by BeBeez). The spv Ortles 21 acquired the NPLs and issued class A notes of 340 million euros (BBB rating from DBRS Morningstar, Scope and Arc Ratings); class B of 40 million, and a junior tranche of 14.3 million. The class A’s rate is of 6M Euribor + 30 bps; class B 6M Euribor + 9.5%. The payment of euribor yields of the class B is subject to the redemption of the class A securities. Class J principal and interest are subordinated to the redemption of the senior and mezzanine notes. Centrale Credit Solutions (CCS), a subsidiary of Cassa Centrale Banca fo