Cuatrecasas advises on an €800m securitization transaction of consumer loans

Cuatrecasas advised Banco Santander and Santander de Titulización in the securitization transaction “Santander Consumo 5, F.T.”, whereby a securitization fund has been set up in relation to a portfolio of consumer loans originated by Banco Santander amounting to 800 million euros. 

The prospectus was registered with the Spanish Securities and Exchange Commission (CNMV) on July 11, 2023.

The securitization fund, which is open-ended and renewable on the asset side, has issued securitization bonds in the amount of 816 million euros, divided into six classes maturing in March 2036, which have been admitted to trading on the AIAF market. In addition, this transaction has been classified as “simple, transparent and standardized” (STS) under European securitization regulations.

The Cuatrecasas team advising Banco Santander and the Management Company was led by Jaime de la Torre, partner in the finance practice, assisted by senior associate Tania Esteban and associates Jerónimo Poza and Iván Wesolowski.

Julia Gil