Cuatrecasas has advised Banco Santander and Santander de Titulización, S.G.F.T. on the securitization transaction named ‘Santander Consumo 8’. Through this transaction, whose prospectus has been registered with the Spanish Securities Market Commission (CNMV), Banco Santander will be able to mobilize credit for businesses and households.

The securitization fund, structured as open-ended and revolving on the asset side, has issued asset-backed securities amounting to €1.522 billion. These bonds, divided into six tranches and maturing in January 2038, have been admitted to trading on the AIAF market of Bolsas y Mercados Españoles (BME). Additionally, the transaction has been classified as STS (simple, transparent, and standardized) under the European securitization regulation. The placement was highly successful, with strong subscription levels across all tranches and a very granular order book.

The Cuatrecasas team advising Banco Santander was led by Jaime de la Torre, partner in the Finance / Capital Markets practice, with the support of lawyers Jaime Juan Rodríguez Lozano, Cristina Leach, and Adrián Coca. They also received support from Rebeca Rodríguez and Javier Calle of the Financial Taxation team.

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