SCF launches securitization of auto loans for aggregate value of €610 million

Cuatrecasas advised the joint lead managers in the securitization transaction known as Santander Consumer Spain Auto 2023-1 on a portfolio of loans issued by Santander Consumer Finance (SCF) for acquiring automobiles in Spain. The corresponding prospectus was recently registered with the Spanish Securities and Exchange Commission.

The asset-backed securities fund has issued bonds worth €610,500,000 with a maturity date of September 2039, which have been admitted to listing on the Spanish Corporate Debt Market (“AIAF”) of the Spanish stock exchanges and markets (BME). This securitization has been structured under the simple, transparent and standardised ("STS”) requirements established in the EU Securitization Regulation (EU Regulation 2017/2402). 

“The Spanish securitization market continues to show signs of strength, with great capacity to adapt to the changing economic circumstances” said Jaime de la Torre, the Cuatrecasas Finance partner who led this transaction with the support of lawyers Jaime Juan Rodríguez and Iván Wesolowski.