Cuatrecasas advises UCI on establishing RMBS Prado XII securitization fund
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SubscribeCuatrecasas has advised Unión de Créditos Inmobiliarios (“UCI”) on establishing the RMBS Prado XII securitization fund worth €650 million. This transaction will enable UCI to offer new mortgage loans to individuals buying homes in Spain.
The securitization—considered to be STS (simple, transparent, and standardized) under European securitization regulations— was successfully structured and placed among supranational investors, despite the difficulties posed by the current economic climate. This has enabled UCI to access liquidity in the markets and continue to strengthen and consolidate its position as a leading institution in mortgage loans.
Banco Santander (Corporate & Investment Banking) and BNP Paribas acted as placement entities.
The Cuatrecasas advisory team was led by Miguel Cruz (Finance and Capital Markets), together with lawyers Jaime J. Rodriguez, Ignacio Rebollo, and Carles Calzado (Finance); and with the collaboration of Javier Calle (Financial Taxation).
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