The €342m approximate[y of Notes are backed by receivables related to salary and pension assignment (SA and PA, respectively) loan contracts as well as payment delegation (PD) loan contracts granted by Istituto Bancario del Lavoro S.p.A. (IBL or the originator) to employees and pensioners in the Republic of Italy.
The Notes are a further issue under a €10 billion programme of issuance.
The transaction was rated by DBRS Morningstar