Cuatrecasas advises Pepper Finance on Mirasol deal
Cuatrecasas has advised Pepper Finance Corporation on a warehouse securitization transaction, named Mirasol Consumer, structured around credit rights derived from personal and consumer loans granted by the entity to individuals resident in Spain.
The transaction qualifies as STS (simple, transparent and standardised) under European securitization regulation. The fund, which is open-ended, has a maximum portfolio amount of €500 million and a maturity date set for May 2046. The acquisition of the credit rights by the securitization fund was financed through a senior, mezzanine and junior debt structure, with Société Générale acting as financier of the securitization.
Legal advisers
The Cuatrecasas team advising on the deal was led by Jaime de la Torre, partner at the banking and finance and capital markets group, together with lawyers Jaime Juan Rodríguez Lozano, Cristina Leach and Alejandro Valenciano, from the same group. The team also included Javier Calle, counsel of the financial tax practice.
