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FonCaixa PYMES 9 FdTdA : 23 November 2017

As per previous transactions, the issue is a cash flow securitisation collateralised by a portfolio of secured and unsecured loans and drawdowns of secured and unsecured lines of credit originated by CaixaBank to small and medium-sized enterprises and self-employed individuals based in Spain.

As of the 24 October 2017 cut-off date, the transaction’s portfolio comprised 36,785 loans and current drawdowns of secured and unsecured lines of credit to 32,816 obligor groups. Obligor concentration: top 1 – 1.7%, top 10 – 5.5%, top 20 – 8.2%. Interest rate type: floating - 58.7%, fixed - 41.3%. Regional concentration: Catalonia – 26.19%, Valencian Community – 13.45%, Andalucia – 13.04% and Madrid – 12.60%.

CRR 405: In compliance with Article 405 of (EU) 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) 648/2012, the Originator (Caixabank) informed the Fund Manager that it will retain, on an ongoing basis, a material net economic interest in the terms required by the regulation in the securitisation transaction.

Compare/contrast: FonCaixa PYMES 8 FdTdA, IM Grupo Banco Popular Empresas 7