Cars Alliance Auto Loans Spain 2022 FdT: 11 November 2022

The transaction is a securitisation of euro denominated receivables obligations, arising from loan agreements for the acquisition of Cars, governed by Spanish law entered into between the Seller and individuals resident in Spain as of the date of execution of the agreement.

At the cut-off date (31 August 2022) the pool consisted of 189,813 auto loans, where the average discounted balance is Eur7,217. Loan type: amortising – 56.1%, balloon – 43.9%. Car status: New – 77.6%, Used – 22.4%. The WA seasoning is 22.14 months. Geographical concentration: Cataluña - 17.4%, Andalucía - 16.5% and Comunidad de Madrid - 15.4%.

EU: Risk Retention: The Originator will undertake to retain, on an ongoing basis, a material net economic interest of at least 5% in the securitisation transaction in accordance with Article 6(3)(d) of the EU Securitisation Regulation.

STS: The transaction is intended to qualify as a simple, transparent and standardised securitisation within the meaning of Article 18 of the EU Securitisation Regulation.

Compare/contrast: Cars Alliance Auto Loans France (V) 2022-1, Autonoria Spain 2022 FdT