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UniCredit: agreement with Mariner Investment Group for a disposal of junior/mezzanine notes of project finance portfolio

UniCredit SpA sold junior/mezzanine risk on a €910mn portfolio of Italian Project Finance loans to further optimize allocated capital, in line with its strategy to enhance risk adjusted profitability. The capital freed up will be redeployed into new business growth.


The risk was purchased by the International Infrastructure Finance Company Fund, LP, and Mariner Breakwater, LP, two funds managed by Mariner Investment Group, a specialized credit and infrastructure asset manager.


The deal was structured by UniCredit Bank AG and legally advised by Riolo Calderaro Crisostomo and DLA Piper legal firms. Freshfields served as counsel to the purchasers.


This type of structured finance deal is one of the levers to relieve capital for reinvestment into new lending. This is an avenue already pursued by UniCredit with Public and Supranational fund to support Italian economy.




Milan, 21 January 2014