The third non-performing loan (NPL) securitization from the Banca di Roma Group will be priced on May 21, by ABN Amro. ABN is currently holding a series of investor presentations for Trevi Finance 3, and has released price guidance.
The EURO600 million Aa2/AA-/AA rated class A is being marketed in the Euribor plus 85-95 basis points range, and the A2/A-/A- rated EURO150 million class B is expected in the plus 200-220 basis point range. The two previous Trevi issues are trading well in the secondary market, quoted above par, and given that they were recently upgraded by Moody's Investors Service it provides a good back-drop for this issue.
