Cuatrecasas on Banco Santander’s €1.42b securitization

Cuatrecasas has provided legal advice to Banco Santander and Santander de Titulización on the recent securitization transaction known as ‘Santander Consumo 9’, which brings together a portfolio of consumer loans in Spain worth €1.421 billion. The transaction prospectus has been registered with the CNMV in accordance with applicable regulations.

The bonds issued by the fund have been admitted to trading on the AIAF fixed income market of Bolsas y Mercados Españoles (BME). The transaction, which will enable Banco Santander to mobilize credit for businesses and families, meets all the requirements to be considered STS (simple, transparent and standardized) in accordance with the European Union’s Securitization Regulation.

Jaime de la Torre, a lawyer in the Financial and Capital Markets group, led the transaction, together with Jaime J. Rodríguez Lozano, Cristina Leach, and Álvaro Heras, with the collaboration of Rebeca Rodríguez and Javier Calle from the Financial Taxation team.