Alantra acted as lead arranger for Millennium BCP on a private synthetic securitization

Dec 2022

Securitization

Portugal – Alantra acted as lead arranger for the largest private bank in Portugal, Millennium BCP (“the Bank”), on the private synthetic securitization of a portfolio of short-term and medium-term SME and corporate exposures.

The transaction marks the return of Millennium BCP to the Significant Risk Transfer (SRT) market, following several years of absence. The transaction qualifies as a Simple, Transparent, and Standardized (“STS”) deal under EU Regulation 2017/2402 and 575/2013.

The Bank has purchased credit protection for the Mezzanine tranche of a portfolio of €1,918m of short and medium-term SME & Corporate exposures.

Alantra supported the client during the entire duration of the deal, from inception to closing and SRT notification to the regulator.

Marcos Chazan, Director in the Secured Funding and ABS team based in London, stated: “The success of the transaction reflects the commitment, expertise and capabilities of Alantra’s SFABS team in the synthetic SRT securitization space and the added value we bring to our clients. We are very proud to have assisted Millennium BCP achieve its objectives.”