Santander registers a new securitisation bond issue with MARF

1. The bonds’ issued volume totals 198 million euros
2. It is Santander’s fifth securitisation in this BME market

BME’s Fixed Income Market, MARF, has admitted to trading a new synthetic securitisation bond issue from the Magdalena 4 PYMES Securitisation Fund, incorporated by the Santander Securitisation Management Company. It has a value of 198 million euros, divided into two tranches of 143 and 55 million euros, respectively. It is the fifth time that Banco Santander has relied on MARF to register a Securitisation Fund of this type.

This transaction covers a portfolio of loans granted to SMEs by Banco Santander or any of its subsidiaries for an amount of 2.3 billion euros.

Santander Corporate and Investment Banking has acted as Arranger and Lead Manager of the issue and Santander de Titulización is the Registered Advisor in MARF. Clifford Chance has provided legal advice to the participants in the transaction regarding Spanish law and Walkers law firm regarding Irish law, under which the credit insurance underwritten by the Fund operates.

“We are glad to have another transaction from Santander in MARF. Having issuers back in this market is a clear sign of the trust they place in BME and for which we are very grateful”, said Gonzalo Gómez Retuerto, General Manager of MARF.

Santander de Titulización, SGFT, is a Securitisation Fund Management Company incorporated in December 1992 and registered with the Special Register of the CNMV –the Spanish securities market supervisor. Santander de Titulización structures all types of funds: RMBS, SMEs, Consumer, CLOs, ABCPs, etc, and currently manages Funds that hold fixed income instruments issued with an outstanding balance in excess of 40 billion euros.