Cuatrecasas has advised CaixaBank on the recent securitisation transaction known as “CaixaBank Consumo 7”, a securitisation fund that groups a portfolio of consumer loans. The transaction prospectus has been registered with the CNMV in accordance with the applicable regulations, within the framework of a securities issuance amounting to €2.039 billion, distributed across six classes of notes.
The notes issued by the securitisation fund have been admitted to trading on the AIAF fixed income market of Bolsas y Mercados Españoles (BME). Through this transaction, CaixaBank will be able to mobilise credit to businesses and households. The transaction meets the requirements to be considered STS (simple, transparent and standardised) under the European Union Securitisation Regulation.
“This transaction highlights the role of securitisation as an efficient way to channel financing to the real economy, in an environment of growing credit demand from households and companies,” said Jaime de la Torre, lawyer in the Financial / Capital Markets group, who led the transaction together with Jaime J. Rodríguez Lozano, Ignacio Rebollo and Carles Calzado. The advisory team also included Rebeca Rodríguez and Javier Calle from the Financial Tax team; Miguel Sánchez and Rosa María Coloma from Financial Regulation; Estefanía Portillo and Teresa Corral from Litigation; and Miguel Gómez from Arbitration
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