Cuatrecasas advises on the securitization of vehicle purchase loans in Spain originated by SCF

Cuatrecasas has advised the Joint Lead Managers in the securitization transaction called Santander Consumer Spain Auto 2023-1 in connection with a portfolio of loans for the acquisition of vehicles in Spain originated by Santander Consumer Finance (SCF). The corresponding prospectus has recently been registered with the CNMV.

The securitization fund has issued bonds in the amount of €610,500,000,000 maturing in September 2039 and have been admitted to trading on the “AIAF” fixed income market of Bolsas y Mercados Españoles (BME). This securitization has been structured under the requirements of simplicity, transparency and standardization (STS) established in the European Securitization Regulation (Reg. EU 2017/2402).

“The Spanish securitization market continues to show signs of solidity, with great capacity to adapt to changing economic circumstances,” says Jaime de la Torre, a partner in Cuatrecasas’ finance practice who led this transaction in which he was assisted by lawyers Jaime Juan Rodríguez and Iván Wesolowski.