Aluna Partners SV1
Trade Receivables
Aluna Partners is launching a €100 million securitisation programme of trade receivables originated by Italian SMEs, structured in accordance with Italian Law No. 130 of 30 April 1999 (the Securitization Law) and Law No. 52 of 21 February 1991 (the Factoring Law). The transaction is executed through a bankruptcy-remote SPV, Aluna Partners SV 1 S.r.l., incorporated under Italian securitisation law.
The SPV will issue dematerialised senior and mezzanine notes, each with a dedicated ISIN, in a revolving structure with a 48-month tenor: a 36-month revolving interest-only period followed by a 12-month amortisation phase.
Investment strategy
The transaction offers exposure to a diversified portfolio of performing trade receivables from dynamic Italian and Spanish SMEs, addressing structural liquidity challenges while preserving commercial relationships. Governance is provided by leading institutions: Baker McKenzie (legal counsel), Centotrenta S.p.A. (master servicer), and BNY Mellon (depository bank). The programme is managed by Aluna Partners Group, combining disciplined credit selection with structuring expertise.
Download investment teaser
Explore Aluna Partners’ €100 million trade receivables securitisation programme, offering exposure to diversified Italian SMEs with strong credit protections and institutional governance.