Zenith Service, a financial intermediary specializing in solutions and services for structured finance in Italy, has completed the first securitization of green car loans in Europe with Toyota for 538.6 million euros.
As stated in a note, this concerns, in particular, the inaugural securitization of Toyota Financial Services, collateralized by loans aimed at the purchase of hybrid, plug-in or electric vehicles disbursed with a zero CO2 emission target, the first transaction in Europe with such characteristics.
Zenith oversaw the profiles relating to the establishment and management of the vehicle company, “Koromo Italy Srl”, performing the roles of Corporate Servicer, Master Servicer, Calculation agent, Back-up Servicer Facilitator and Bondholders’ Representative.
With this transaction, Zenith confirms itself as an innovative operator sensitive to environmental issues in the Italian securitization sector, opening a new segment aimed at investors attentive to ESG dynamics.
Source: Ansa
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