Alantra advises Santander Consumer Finance on the €700mn securitisation of performing residential mortgages

Feb 2025

Sell-side advisory

Value €700mn

Madrid – Alantra has advised Santander Consumer Finance (“SCF”) on the successful disposal of its Spanish residential mortgage exposure amounting to approximately €700mn of performing loans granted to individuals and backed by residential properties.

Following SCF’s strategic decision to discontinue new mortgage origination and place the existing book into run-off, Alantra designed and executed a competitive sale process that attracted strong interest from institutional investors. The transaction structure allowed SCF to transfer the economic rights of the portfolio while retaining servicing responsibilities and client relationships, ensuring continuity for borrowers and operational efficiency for Santander.

The sale was executed through a residential mortgage-backed securitisation (RMBS). Under the structure, SCF sold the portfolio to Morgan Stanley, who subsequently securitised the loans; Santander retained the senior (Class A) notes, while mezzanine and junior tranches were placed among institutional investors.

This transaction represents a milestone in Santander’s ongoing capital optimisation strategy, demonstrating its proactive balance-sheet management approach. The strong market response highlights Alantra’s expertise in structuring and coordinating tailor-made securitisation and portfolio solutions, even in complex and transitional contexts.