London and Milan; Global legal practice Norton Rose Fulbright has advised the European Investment Fund (EIF) on a guarantee provided for an asset backed floating rate note issue, arranged by Société Générale Corporate & Investment Banking (Société Générale).
The transaction consisted of an issue by Alba 4 SPV S.r.l. of €75,400,000 Series A2 Guaranteed Asset Backed Floating Rate Notes (the Notes). This transaction follows the issue by Alba 4 SPV S.r.l. of €74,600,000 Series A1 Guaranteed Asset Backed Floating Rate Notes back in March 2013, also arranged by Société Générale. The Notes were backed by lease receivables originated by Alba Leasing S.p.A.
The main activity of EIF is to support the establishment, growth and development of small and medium-sized enterprises. The EIF is a specialised financial institution for guarantees and equity instruments, which it provides using its own resources and those available within the framework of mandates entrusted to it by the European Investment Bank.
The Norton Rose Fulbright team advising EIF was led by partner Sandrine Sauvel (London) and partner Umberto Mauro (Milan).