Orrick Advises JP Morgan on Sale of Non‐Performing Loan Portfolio


Orrick assisted JP Morgan, as arranger, in the sale of a portfolio of non-performing loans of 12 banks to the POP NPLs 2019 S.r.l. vehicle. The securitization transaction, announced on December 20, 2019 and for which the guarantee of the Italian State GACS on the senior tranche will be required, has a gross value payable of €826.7 million.

The Orrick team was led by Patrizio Messina and Madeleine Horrocks and included Nicolò Del Dottore, Andrea Cicia, Franco Lambiase, Sebastian Roberti, Federico Di Giovanni and Serena Mussoni.