Zenith Global, part of IQ-EQ and a leading player in automotive securitisation, has completed a €1.2 billion public securitisation of auto financing loans granted by Stellantis Financial Services Italia S.p.A. (“Stellantis FS”).
The transaction involved the issuance of asset-backed securities (ABS) divided into senior, mezzanine and junior tranches, subscribed to by institutional investors and listed on the Luxembourg Stock Exchange.
The securitisation qualified for the Simple, Transparent and Standardised (STS) regulatory designation, reserved for high-quality, low-risk securitised assets, granting investors capital relief. The structure was designed to achieve significant risk transfer (SRT) and enabled the bank to strengthen solvency ratios.
Zenith Global, as part of IQ-EQ, acted as corporate servicer, calculation agent and noteholders’ representative.
This transaction was Zenith Global’s second for Stellantis FS, evidencing continued client satisfaction as well as Zenith’s role as a trusted partner to captive finance companies in diversifying funding sources and improving capital efficiency.
Zenith previously supported Stellantis FS with its first public securitisation in Italy in 2023, which was backed by receivables for car purchases with an initial value of approximately €750 million.
Stellantis FS is the Italian captive bank of Stellantis Group, a major global car maker responsible for many of the world’s best-known vehicle brands.
Tiziana Bertolazzi, Zenith’s Head of Business Development and relationship lead for Stellantis FS, commented: “We were delighted to extend our support for Stellantis FS to its second public securitisation in the Italian market. The transaction achieved strong investor interest, reflecting the firm’s portfolio quality and reinforcing its prominence in the European automotive sector. We hope to keep supporting the Stellantis FS team as they continue to develop structured and sustainable financial solutions.”
