Cuatrecasas advises Pepper Finance Corporation on Mirasol Consumer securitization of credits arising from personal and consumer loans
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SubscribeCuatrecasas has advised Pepper Finance Corporation on a warehouse securitization transaction named Mirasol Consumer, structured around credit rights arising from personal and consumer loans granted by the institution to individuals resident in Spain.
The transaction meets all the requirements to be considered STS (simple, transparent, and standardized) under European securitization regulations.
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.
The Cuatrecasas advisory team was led by Jaime de la Torre (Finance and Capital Markets), together with lawyers Jaime Juan Rodríguez, Cristina Leach and Alejandro Valenciano from the same group; assisted by Javier Calle (Financial Taxation).
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