Project Bank, the digital banking institution that stands out for its specialization in services for Italian small and medium-sized enterprises (SMEs) and private customers, has successfully completed its fifth securitization transaction. This operation represents a further step forward in the institute’s strategy to support Italian SMEs.
The portfolio underlying this operation is made up of loans disbursed by the bank to Italian SMEs. These loans are guaranteed by the Guarantee Fund, a key element that has contributed to consolidating Banca Progetto’s position in the Italian banking landscape. The total initial value of this portfolio is 670 million euros.
The operation was carried out in the first half of June and saw the contribution of Intesa Sanpaolo, IMI Corporate & Investment Banking division, in the role of “arranger”. The implementation took place through the vehicle company Progetto Pmi 4 Srl. The securities were issued in two classes: a senior one, for an amount of 500 million euro, subscribed by the conduit of the arranger, Intesa Sanpaolo, and a junior one, fully subscribed by Banca Progetto, for an amount of 170 million euro.