Italian NPL market activity stirred awake last week with talks of a $215 million U.S. equivalent transaction dubbed Mutina S.r.l in the February pipeline.

It's testament to both the stability and cheap pricing displayed among many of the existing structures. The key to understanding these deals is recognizing who the servicer is and noting the collateral valuations. "The Italian NPL sector had its fair share of negative headlines during 2002," said panelists at Morgan Stanley's Research Roadshow. "However, it is our view that the overall sector performance has been satisfactory."

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.