Hogan Lovells advises on the new STS securitisation of Santander Consumer Bank

Hogan Lovells advises on the new STS securitisation of Santander Consumer Bank

Press releases | 07 October 2021

MILAN, 7 October 2021 - International law firm Hogan Lovells has provided assistance in relation to the new securitisation transaction of auto loans originated by Santander Consumer Bank S.p.A., with a nominal value of approximately euro 505 million. 

The securitisation has been structured in accordance with Law 130/99 (the Italian securitisation law) and in compliance with requirements of “simplicity”, “transparency” and “standardisation” (STS) provided by the European regulation on securitisation (Reg. EU 2017/2402). Prime Collateralised Securities (PCS) EU SAS provided verification services in respect of such STS requirements.

The class A, B, C, D and E notes issued by the securitisation vehicle Golden Bar (Securitisation) S.r.l. have been rated by Fitch and Moody's and, together with the class F notes, have been listed on the Luxembourg Stock Exchange. Banco Santander S.A., acted as arranger and sole lead manager of the securitisation.

Hogan Lovells acted as drafting counsel to Santander Consumer Bank, with a team comprising of partner Federico Del Monte, associates Diego Guardì and Matteo Scuriatti and trainees Pietro Castoldi and Serena Tonello. A group of lawyers based in Italy (with a team including counsel Serena Pietrosanti and senior associate Maria Cristina Conte), Paris (with a team comprising partner Sharon Lewis and senior associate Ailsa Davis) and Madrid (with a team led by partner Jose Luis Vazquez) offices advised on the tax aspects and on the English and Spanish law aspects of the transaction.