White & Case LLP has advised Banca IMI, Citibank and Deutsche Bank, as arrangers and senior notes underwriters, and Citibank as hedging provider, on the refinancing of two portfolios of performing financial leasing and a variety of corporate loans originated by GE Capital Interbanca Group in relation to its acquisition by Banca IFIS S.p.A.

The transaction includes two separate securitizations, one relating to receivables arising from financial lease contracts originated by GE Capital Servizi Finanziari S.p.A. (now IFIS Leasing S.p.A.) and includes the issuance of senior notes rated by DBRS and Moody’s, and the second relating to receivables arising from secured or unsecured corporate loans originated by GE Capital Interbanca S.p.A.

The White & Case team which advised on the securitizations was led by partners Gianluca Fanti (Milan) and Gavin McLean (London), and local partner Giuseppe Barra Caracciolo (Milan), together with associates Francesco Scebba, Riccardo Verzeletti (both Milan) and Melissa Ashdown (London). Partner Ingrid York and associate Nate Crowley (both London) advised Citibank on the hedging.