Panoramic: Automotive and Mobility 2025
Hogan Lovells advises on new €500m securitisation of Santander Consumer Bank
Press releases
| 07
November
2025
7 November 2025 – Global law firm Hogan Lovells acting as reviewing counsel, has advised Banco Santander S.A, as arranger, and Banco Santander, HSBC e Société Générale, as joint lead managers, on a securitisation of receivables arising from loans for the purchase of motor vehicles and personal loans granted by Santander Consumer Bank S.p.A. to its customers during the year, with a nominal value of approximately €500 million.
The transaction was structures pursuant to Law 130/1999 (the Italian securitisation law) and according to the criteria of "simplicity", "transparency", and "standardisation" (STS) provided by European regulation (Reg. EU 2017/2402). Prime Collateralised Securities (PCS) EU SAS acted as third-party verifier of these requirements.
The asset-backed securities of the transaction were issued by the special purpose vehicle Golden Bar (Securitisation) S.r.l. The Class A, B, C, D, E, and F notes were assigned ratings from DBRS and Fitch, were listed on the Luxembourg Stock Exchange and placed on the market. While the Junior notes (Class Z) were not assigned a rating or listed.
Banco Santander S.A. acted as Arranger of the transaction. Banco Santander, HSBC, and Société Générale acted as Joint Lead Managers in relation to the Class A, B, C, D, E, and F notes.
Hogan Lovells advised Banco Santander S.A and the joint lead managers, as reviewing counsel, with a multi-jurisdictional team led by partner Annalisa Dentoni-Litta, and included senior associate Pietro Tirantello and trainee Federico Bastoni. Counsel Ailsa Davies and associate Joanna Veitch, from the Paris office, handled the English law matters.
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