Hogan Lovells Advises on New €500m Securitisation for Santander Consumer Bank

Hogan Lovells advised Banco Santander S.A., acting as arranger, and the joint lead managers Banco Santander, HSBC and Société Générale in connection with a securitisation of receivables originated by Santander Consumer Bank S.p.A. The transaction securitised receivables arising from loans for the purchase of motor vehicles and from personal loans granted by Santander Consumer Bank S.p.A. to its customers during the year, with a nominal value of approximately €500 million. It was structured pursuant to Italian Law 130/1999 and in accordance with the simplicity, transparency and standardisation (STS) criteria set out in EU Regulation 2017/2402. Prime Collateralised Securities (PCS) EU SAS acted as the third‑party verifier of those STS requirements. The asset‑backed securities were issued by the special purpose vehicle Golden Bar (Securitisation) S.r.l. Classes A, B, C, D, E and F were assigned ratings by DBRS and Fitch, listed on the Luxembourg Stock Exchange and placed on the market. The junior notes (Class Z) were not rated or listed. Banco Santander S.A. acted as arranger of the transaction, and Banco Santander, HSBC and Société Générale acted as joint lead managers in relation to the Class A–F notes. Hogan Lovells represented Banco Santander S.A. and the joint lead managers Banco Santander, HSBC and Société Générale with a multi‑jurisdictional team composed by: Annalisa Dentoni‑Litta (partner), Pietro Tirantello (senior associate) and Federico Bastoni (trainee). Hogan Lovells represented Banco Santander S.A. and the joint lead managers Banco Santander, HSBC and Société Générale in relation to the English law matters through its Paris office with: Ailsa Davies (counsel) and Joanna Veitch (associate).

Hogan Lovells Advises on New €500m Securitisation for Santander Consumer Bank

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