Cuatrecasas advises UCI on €650M RMBS Prado XII
Cuatrecasas has advised Unión de Créditos Inmobiliarios (UCI) on the establishment of the securitisation fund RMBS Prado XII, a €650 million residential mortgage-backed securitisation transaction aimed at supporting the origination of new mortgage loans for individuals purchasing residential property in Spain.
The transaction, classified as a Simple, Transparent and Standardised (STS) securitisation under the European securitisation framework, was structured and placed among supranational investors despite the challenges posed by the current economic environment.
Banco Santander Corporate & Investment Banking and BNP Paribas acted as placement entities in the transaction.
The team
The Cuatrecasas team advising on the deal was led by Miguel Cruz from the firm’s Financial and Capital Markets practice, alongside lawyers Jaime J. Rodríguez, Ignacio Rebollo, and Carles Calzado, with the collaboration of Javier Calle from the Financial Tax department.
