Kruso Kapital closes €80M ABS backed by pawn loans, weeks after first bond
What's the deal? Kruso KapitalDealroom has a profile for this one. Try Dealroom → said Friday it closed its first issuance of asset-backed securities (ABS), backed by a portfolio of pawn loans originated in Italy. The transaction totals €80 million, excluding the portion retained by the company, and includes a 24-month revolving period. Only the senior tranche, worth €60 million, has been placed for now.
Why now? The issuance follows Kruso Kapital's first bond issuance in July and is part of a funding diversification push under its 2026-2028 business plan. "Accessing the ABS market expands the tools available to the company to support business growth," chief financial officer Carlo Di Pierro said.
What's the endgame? Kruso Kapital says this is the only securitisation deal in Europe backed by pawn loans. The structure lets it tap capital markets to fund lending growth without relying on a single source.
Who's involved? UniCredit Bank GmbHDealroom has a profile for this one. Try Dealroom → is sole arranger and placement agent. Banca FinintDealroom has a profile for this one. Try Dealroom → is serving as servicer and calculation agent, among other roles, while Bank of New York Mellon SA/NVDealroom has a profile for this one. Try Dealroom → is acting as account bank and paying agent. Jones DayDealroom has a profile for this one. Try Dealroom → is the arranger's legal counsel.
The signal: Coming just two months after its debut bond, the ABS deal marks a quick re-raise as Kruso Kapital builds out multiple funding channels. Kruso Kapital shares were down 5.3% at €0.022.
Read more: in.marketscreener.com
Image credit: Carol Walker
