Santander Consumer Bank completes €700 million new STS securitization of auto loans and personal loans

Client(s) Santander Consumer Bank

Jones Day advised Santander Consumer Bank, as drafting counsel, in connection with a new public securitization of receivables arising from auto loans and personal loans granted by the bank to its customers, for a total value of approximately €700 million.

The securitization was structured in compliance with the simplicity, transparency, and standardization (STS) requirements set out under European regulations (EU Reg. 2017/2402). Prime Collateralised Securities (PCS) EU SAS acted as the third-party verifier of those requirements.

The asset backed securities were issued by the special purpose vehicle Golden Bar (Securitisation) S.r.l. The Class A, B, C, D, and E Notes received ratings from DBRS and Fitch, were listed on the Luxembourg Stock Exchange, and were placed on the market. The Junior Notes (Class Z) were not rated nor listed.