Italian lender Unicredit, US investor Pimco and London-based GWM have emerged as the buyers of the €908 mln Sandokan 2 securitisation, which is backed by secured loans originated by UniCredit, involving 58 borrowers.
The notes were issued by Unicredit’s Yanez special purpose vehicle as part of a larger programme which is due to reach a size of €2 bn in 2021.
Aurora REcovery Capital (AREC) is the asset manager and special servicer of the securitisation.
‘The Sandokan programme will help increase the future value of loans through proactive asset management, innovative solutions, and new funding, when and where needed,’ Unicredit said in a statement.
Sandokan 2 follows the successful launch in 2017 of its predecessor, the €1.3 bn Sandokan project.