Cuatrecasas advises Banco Santander on the securitization of consumer loans ‘Santander Consumo 7’
Cuatrecasas has advised Banco Santander and Santander de Titulización, S.G.F.T. in the securitization transaction called ‘Santander Consumo 7’, which will contribute to economic cohesion and project finance. The prospectus was registered with the National Securities Market Commission (CNMV) on November 11, 2024. In this way, Banco Santander will be able to mobilize credit to companies and families.
The securitization fund has issued securitization bonds in the amount of 1,215 million euros, divided into six classes maturing in July 2038, which have been admitted to trading on the AIAF market. In addition, this transaction has been classified as STS (“simple, transparent and standardized”) under European securitization regulations. The placement, with a high level of subscription in all the classes placed and a very granular subscription book, was a complete success.
The team advising Banco Santander was led by Jaime de la Torre, partner in the finance and capital markets practice, with the assistance of lawyers Jaime Juan Rodríguez Lozano, Jerónimo Poza, Ignacio Rebollo and Cristina Leach. They were also assisted by Rebeca Rodríguez and Javier Calle, from the financial taxation group.
