© 2026 Arizent. All rights reserved.

Segesta II Will Come To Market With CBO Deal

Published 1 Min Read

In a CBO deal expected to close on December 15, Luxembourg-based Segesta II Finance S.A. will issue a Eur365 million (USD$326 million) portfolio of both credit default swaps and asset-backed bonds.

The deal is a securitization backed by a bond portfolio held by Banca del Salento Credito Popolare Salentino Banca 121 S.P.A. (Banca 121), a subsidiary of Banca Monte dei Paschi di Siena (MPS). The notes are also backed by a cash deposit account that will be secured by a pledge on eligible securities. Additionally, Segesta II will acquire a portfolio of asset-backed securities. Segesta II will also enter into a credit default swap agreement with BNP Paribas, Banca 121 and 121 Financial Services Ltd.

Standard and Poor’s Rating Services and Fitch have given the transaction a preliminary rating of AAA. According to S&P, the transaction has a diversified portfolio and 79.17% of the portfolio is rated BBB or above.

For reprint and licensing requests for this article, click here.

More From Asset Securitization Report

Securitization reform throws wrench into EU RMBS market

Last-minute revisions to European securitization regulation are raising concerns about the ability of banks to unload over €1 trillion of bad loans – considered a crucial step in boosting lending and jump-starting the region’s flagging economy.

By Glen Fest

Italian Bank Slated to Debut Sale and Lease Backed Deal

Italian bank Banca Monte dei Paschi di Siena (Banca MPS), currently marketing a new Italian RMBS, has also brought to market a €1.5 billion ($2.08 billion) sale and lease backed deal, according to published reports. The offering is a securitization of rental income derived from 683 bank branches and offices in Italy. These real estate assets are […]

Phase II: What’s next for Italy

Between 1999 and 2003 the growth in the Italian market reached unprecedented levels, and it emerged as one of the strongest markets in Europe. But the growth in the market has been largely dominated by state-related asset securitizations, lease receivables, NPLs and consumer and mortgage loans. How much is too much? As investors begin to […]