SECURITISATION WITHOUT SECURITIES: LOANS ARE NOT NOTES FOR TAX PURPOSES by Norman Pepe & Fabrizio Occhipinti cover art

SECURITISATION WITHOUT SECURITIES: LOANS ARE NOT NOTES FOR TAX PURPOSES by Norman Pepe & Fabrizio Occhipinti

SECURITISATION WITHOUT SECURITIES: LOANS ARE NOT NOTES FOR TAX PURPOSES by Norman Pepe & Fabrizio Occhipinti

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In December 2020, the Italian Budget Law for 2021 introduced, in addition to the traditional
asset-backed notes, an alternative funding tool for Italian securitisation vehicles
(the “SPVs”).

Now SPVs may fund the acquisition of assets in securitisation transactions through
the proceeds of ad hoc financings in the form of loans advanced by lenders authorised to grant
loans in Italy.

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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.