Cuatrecasas has provided legal advice to Banco Santander and Santander de Titulización, S.G.F.T., in the recent securitization transaction named Santander Consumo 9, which groups together a portfolio of consumer loans in Spain amounting to €1.421 billion. The transaction’s prospectus has been filed with the CNMV in accordance with applicable regulations.
The bonds issued by the fund have been admitted to trading on the AIAF fixed-income market of Bolsas y Mercados Españoles (BME). The transaction, which will enable Banco Santander to mobilize credit for businesses and households, meets all the requirements to be classified as STS (simple, transparent, and standardized) under the EU Securitization Regulation.
“Transactions like this strengthen market confidence in securitization as a key wholesale financing tool,” noted Jaime de la Torre, lawyer in the Financial / Capital Markets group who led the transaction together with Jaime J. Rodríguez Lozano, Cristina Leach, and Álvaro Heras, with the collaboration of Rebeca Rodríguez and Javier Calle from the Financial Tax team.
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