Securitization

We started to carry out securitization transactions to meet the needs of our bondholders, acting as sub-servicers in the transactions and following their onset and progress since the very beginning.

We combine the analysis and presentation of NPL transactions with the creation, upon request, of a suitable management structure for the cash flow and subscription of securities. Our approach has proved to be successful over the years and helped us establish ourselves as professional and qualified operators. The shift from real estate company to servicer for SPVes required a considerable initial effort in terms of compliance and structure, which is starting to pay off.

The activity on the NPL market through a securitisation special purpose entity offers many advantages, including:

  • relationships with the parties as a professional operator with a solid reputation;
  • possibility of planning the payments in a preferential order (tranching)
  • asset segregation (pursuant to Law 130/99 on the securitization of credits)
  • ability to continuously operate in the reference market;
    -flexibility of the structure, including, for example, the issue of new bonds, their total or partial reimbursement or their exchange with professional operators, etc.

The structure is able to create new credit securitisations and issue new ABSes. In this regard, GMA cooperates with best professionals in this market on the development of tailor-made transactions according to the credit types and the customers’ requirements.