Spain
Cuatrecasas advises Banco Santander on Santander Consumo 10 securitization for consumer loans in Spain
Cuatrecasas has advised Banco Santander and Santander de Titulización on the securitization transaction known as Santander Consumo 10, which consolidates receivables arising from consumer loans granted by Banco Santander to individuals residing in Spain.
The transaction meets all the requirements to be considered STS (simple, transparent, and standardized) under European securitization regulations. The fund has issued securitization bonds for a total amount of €1.428 billion, distributed across six classes and maturing in May 2041. These bonds have been admitted to trading on the Spanish Corporate Debt Market (AIAF) of the Spanish Stock Exchanges and Markets (BME).
The advisory service was provided by a team of lawyers led by Jaime de la Torre, a partner of the Cuatrecasas Finance and Capital Markets Practice, together with Jaime Juan Rodríguez Lozano, Cristina Leach, and Alejandro Valenciano, from the same practice area, and with the collaboration of Javier Calle from Financial Taxation.