The international law firm Clifford Chance advised Banco Santander, S.A., HSBC, Natixis and UniCredit as Lead Managers on a EUR 600 million German auto loan securitisation. The auto loans were originated and sold by Santander Consumer Bank AG to SC Germany Auto 2013-2 UG.

The SC Germany Auto programme is well-established and firmly grounded in the real economy in Germany. The transaction was certified by True Sale International and awarded the recently introduced Prime Collateralised Securities (PCS) Label. Both standards assess asset quality and structural transparency of securitisation issuances.

The Clifford Chance team was led by partners Dr. Oliver Kronat, Kirti Vasu (both Banking & Capital Markets) and Dr. Hubert Schmid (Tax) and included senior associate Sarah Palmer and associate Hannes Deusch (both Banking & Capital Markets) as well as counsel Olaf Mertgen (Tax) - all Frankfurt.