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Caixabank Consumo 3, FTDA: 26 July 2017


A static securitisation fund, where the notes were issued to finance the purchase of a portfolio of consumer credit rights originated by CaixaBank, S.A. The portfolio comprises unsecured consumer loans (81.7%) and mortgage consumer loans, including standard loans (3.3%) and current drawdowns of a revolving mortgage credit line (15.0%), extended to obligors in Spain.

Eligibility criteria (includes): denominated and payable in euro; fully drawn by the relevant debtor; no loans to real estate developers; have not been restructured; payable through direct debit.

The portfolio consists of 287,013 contracts. Type of contract: mortgage consumer rights – 28,412 advanced to 19,497 borrowers; unsecured consumer loans – 258,601 advanced to 239,597 debtors. Average Current Balance per Borrower: mortgage loans – Eur23,619; consumer loans – 8,597. The WA current combined LTV of the mortgage consumer loans is 63.2% with 20.5% having a CLTV of greater than 80%. The WA seasoning is 27 months. Regional concentration: Cataluna – 32.7%, Andalucia – 17.3% and Madrid – 12.1%.


Compare/contrast: Caixabank Consumo 2, FTDA