Stellantis Financial Services Italia has completed a €1.2 billion public securitisation backed by a portfolio of auto loans originated in Italy to finance new and used vehicle purchases.
The transaction was executed through the special purpose vehicle Auto ABS Italian Stella Loans, which issued senior, mezzanine and junior asset-backed securities (ABS) subscribed by qualified institutional investors.
Strengthening Capital and Funding
The six-month revolving transaction has been awarded the Simple, Transparent and Standardised (STS) label under European securitisation regulations and was structured to achieve Significant Risk Transfer (SRT), enabling the bank to strengthen its regulatory capital ratios.
The senior and mezzanine notes have been rated by DBRS and Fitch Ratings and are listed on the Luxembourg Stock Exchange.
Stellantis Financial Services Italia is the Italian captive finance bank of Stellantis Group and operates as a 50:50 joint venture between Stellantis Financial Services Europe and Santander Consumer Bank.
Major Financial Institutions Participate
Banco Santander acted as arranger for the transaction, while Banco Santander, Société Générale, MUFG Securities (Europe) and IMI – Intesa Sanpaolo served as Joint Lead Managers.
Zenith Global acted as Corporate Servicer, Calculation Agent and Representative of Noteholders, while Jones Day advised the originator and DLA Piper acted as legal adviser to the arranger.
Investor Demand Remains Strong
Sergio Lino, Chief Financial Officer of Stellantis Financial Services Italia, said the successful transaction demonstrates the company’s continued ability to access international capital markets despite challenging market conditions.
He said strong investor demand reflects the quality of the bank’s loan portfolio and the strength of its business model while supporting funding diversification, regulatory capital optimisation and long-term financial flexibility.
According to the company, the securitisation forms part of its broader strategy to develop sustainable funding solutions that support future business growth and active balance sheet management.
