Red 2 Finance CLO 2018-1: 25 October 2018

Santander has closed its second synthetic UK CRE CLO.

A static transaction, where the 837 commercial real estate loans have a low loan-to-value of 47.6% and the five largest exposures account for only 4.7% of the portfolio. The transaction does not allow for loan extensions, refinancing and reference loan additions.

Ian Loveys, Head of Capital Solutions, Corporate & Commercial Banking, says: “We are delighted to have completed our second commercial real estate securitisation. This maintains our position as a market leader in significant risk transfer, efficient capital management and securitisation.”