Cuatrecasas advises on €1.43B Santander consumer ABS

Cuatrecasas has advised Banco Santander and Santander de Titulización on the securitisation transaction known as Santander Consumo 10, which pools credit rights arising from consumer loans granted by Banco Santander to individuals resident in Spain.

The transaction meets all the requirements to be classified as STS (simple, transparent and standardised) under the European securitisation framework. The fund issued asset-backed notes for a total amount of €1.428 billion, divided into six classes and maturing in May 2041. The notes have been admitted to trading on BME’s AIAF fixed-income market and are represented by book entries in Iberclear.

The advice was provided by a team led by Jaime de la Torre (pictured), partner in Cuatrecasas’ Financial Law and Capital Markets group, together with Jaime Juan Rodríguez Lozano, Cristina Leach and Alejandro Valenciano from the same group, with the collaboration of Javier Calle from the Financial Tax practice.