Clifford Chance has advised BBVA on its inaugural synthetic securitisation linked to a consumer loan portfolio through the securitisation fund BBVA Vela Consumer 2025-1, with a total amount of EUR 2.5 billion. The transaction includes the issuance of Credit Linked Notes for a total amount of EUR 131.2 million, representing the mezzanine tranche of the deal.

The Clifford Chance team was led by Global Financial Markets counsel Leonardo Fernández and included senior associate Virginia Jiménez (Global Financial Markets) and senior counsel Roberto Grau (Tax).

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