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SubscribeCuatrecasas has advised Banco Sabadell on the recent securitization transaction known as Sabadell Consumo 4, which comprises a portfolio of consumer loans for personal, family and household use. The transaction’s prospectus has been registered with the Spanish Securities and Exchange Commission, as required by applicable law relating to the issuance of bonds worth over €1 billion.
The bonds issued by the fund have been admitted to trading on the AIAF fixed-income market and the Spanish stock exchanges and markets (BME). The transaction meets all the requirements to be considered STS (simple, transparent, and standardized) under the Securitization Regulation. With this transaction, Banco Sabadell positions itself as a recurring issuer, diversifying its financial resources and improving its financial autonomy.
The Cuatrecasas advisory service was provided by a team of lawyers led by Jaime de la Torre, a partner of the Finance and Capital Markets Practice, together with Jaime Juan Rodríguez, Ignacio Rebollo and Ramón Juan Solano, from the same practice area, and with the collaboration of Javier Calle from the Financial Taxation Practice.
Jaime de la Torre commented on the transaction: “Transactions like Sabadell Consumo 4 show the maturity and strength of the Spanish securitization market, which continues to attract institutional investors. This is a very positive period for this type of structure in Spain.”
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