Hogan Lovells in the new STS auto loans securitisation of Santander Consumer Bank
Milan, 23 October 2023 - Global law firm Hogan Lovells has advised in relation to the new securitisation transaction of auto loans originated by Santander Consumer Bank S.p.A. in Italy having a nominal value of approximately 1 billion euros.
The securitisation has been structured in accordance with Law 130/1999 (the Italian securitisation law) and in compliance with requirements of “simplicity”, “transparency” and “standardisation” (STS) provided by the European regulation on securitisations (Reg. EU 2017/2402). Prime Collateralised Securities (PCS) EU SAS has acted as a third party verifier of these requirements.
The asset-backed Notes of the transaction have been issued by the special purpose vehicle Golden Bar (Securitisation) S.r.l.. The Class A, B, C, D, E and F Notes have been rated by DBRS and Fitch and have been listed on the Luxembourg Stock Exchange [and have been placed in the market]. Conversely, the Junior Notes (Class Z) have neither been rated, nor been listed.
Banco Santander S.A. has acted as Arranger of the transaction and Lead Manager with respect to the Class A Notes. Banco Santander, Intesa Sanpaolo and UniCredit Bank AG have acted as Joint Lead Managers of the transaction with respect to the Class B, C, D, E and F Notes.
Hogan Lovells has acted in the context of the transaction as legal counsel of the Arranger (Banco Santander) and the Joint Lead Managers (Banco Santander, Intesa Sanpaolo and UniCredit Bank AG). The Hogan Lovells team was led by the partner Federico Del Monte, with support from associate Serena Tonello and trainee solicitor Anita Lucchini.
Head of Tax Italy Serena Pietrosanti and senior associate Maria Cristina Conte advised on Tax aspects of the transaction. Partner Sharon Lewis with the support from senior associate Ailsa Davies and associate Joanna Veitch provided advice on the English law aspects of the transaction.
Press contacts
Press contacts
