Pollen Street announces new facility financing Italian and Spanish Public Administration receivables

Pollen Street Capital (“Pollen Street”) is pleased to announce the completion of a portfolio financing, comprising two separate pools of Public Administration receivables from BFF Bank S.p.A. (“BFF”) in Italy and Spain.

The transaction extends our existing public sector investment platform in the Italian market and marks Pollen Street’s first investment in Spanish Public Administration receivables.

The Italian portfolio comprises receivables owed by Italian public sector entities backed by final non-appealable court judgments. The Spanish portfolio comprises of claims owed mainly by Spanish regional health services, arising from the settlement of invoices for essential goods and services.

Collextion, a Rome-based specialist servicer with a multi-year track record collecting Public Administration receivables, will act as special servicer for the Italian portfolio and as back-up servicer and portfolio monitor for the Spanish portfolio, which will continue to be serviced by BFF.