Hogan Lovells advises Spinbridge on its first NPL securitisation

Press releases | 11 November 2025

11 November 2025 – Global law firm Hogan Lovells has advised Spinbridge S.p.A., company led by CEO Maurizio Tucci and specialized in the purchase and management of receivables, as subscriber and sub-servicer in a securitisation of non-performing loans (NPLs). The transaction features a revolving period with the issuance of partially paid notes, enabling the vehicle Spinbridge SPV S.r.l. to acquire additional NPL portfolios.

In the transaction, Cerved Master Services S.p.A. acted as servicer, and Accounting Partners S.p.A. as corporate servicer, calculation agent, and representative of the noteholders.

The Hogan Lovells team that advised on the transaction was led by managing partner Italy Patrizio Messina, and included counsel Salvatore Graziadei, associate Leonardo Tripaldi and trainee Matteo Cutuli.