COMUNICATO STAMPA

PITAGORA SPA: SECURITIZATION TRANSACTION
Turin, January 15th, 2014
Pitagora SpA, owned by the holding Pitagora 1936 SpA (whose shareholders are: Wise
SGR, Banca Popolare di Milano and the founder and CEO, Massimo Sanson, as
Bonino 1934 Srl ), as well as by Cassa di Risparmio di Asti, and by the Pitagora
management, on December 20th, 2013, sold to a leading American financial
institution the 57,02 % of the senior notes issued by Madeleine SPV Srl, within the
securitization transaction completed on May 24th, 2013.
This securitization sourced from receivable purchase of loans secured by assignment
of one fifth of the salary and/or pension (CDQ), for a total amount of 300 million €.
The notes were issued on a "partly paid” basis into two classes: a senior class for a
nominal amount of 260.8 million €, and a junior class for a nominal amount of 57.2
million €.
Pitagora, as originator, is a financial intermediary specialized since 1995 in CDQ. The
company has a network of 69 branches and works with 43 banks and 18 other
partners operating on related markets according to an innovative business model.
The purchaser of part of the senior notes, is a leading global investment banking,
and provides financial services to institutional and high-profile clients.
"The sale of senior notes - Massimo Sanson, Pitagora CEO, says - enables our
company to finance the whole securitization transaction for the year 2014, ensuring
the diversification of funding sources (guideline of the company business plan), and
the continuous business development with the banks and the retail market."
For more information:
Pitagora S.p.A.
Ufficio Immagine&Comunicazione - +39 011 3341267
[email protected]

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