Spain
Cuatrecasas advises Banco Santander on “Santander Consumo 7” securitization transaction
December 11, 2024
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SubscribeCuatrecasas has advised Banco Santander and Santander de Titulización on the “Santander Consumo 7” securitization transaction that will contribute to economic cohesion and project financing. The prospectus was registered with the Spanish Securities and Exchange Commission on November 11, 2024. This will enable Banco Santander to mobilize credit for companies and households.
The securitization fund has issued €1.2 billion worth of securitization bonds, divided into six classes maturing in July 2038, which have been admitted to trading on the Spanish Corporate Debt Market. In addition, this transaction has been classified as “simple, transparent and standardized” (STS) under European securitization regulations. The placement was a success, with a high level of subscription in all classes placed and a comprehensive subscription book.
The Cuatrecasas team advising Banco Santander was led by Finance and Capital Markets partner Jaime de la Torre, assisted by lawyers Jaime Juan Rodríguez Lozano, Jerónimo Poza, Ignacio Rebollo and Cristina Leach. Also participating were Rebeca Rodríguez and Javier Calle from the firm’s Financial Taxation Group.
December 11, 2024
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