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24-NOVEMBER-2021

MARF registers a new Securitisation Fund originated by SWK Bank

BME’s Fixed Income Market, MARF, today admitted a new bond issue to trading from SWK Consumer 2021-1’s Securitisation Fund for 400 million euros. The issue is divided into two series: Class A, of 352 million euros, and Class B, of 48 million euros, which will bear annual interest rates of 0.25% and 2.25%, respectively. The Fund's assets consist of a portfolio of German consumer loans originated by the German financial institution Süd-West-Kreditbank Finanzierung GmbH (SWK Bank). The Fund will be managed by Titulización de Activos (TdA).   

SWK Bank acts as Sole Arranger for the issue. TdA will be the Registered Advisor in MARF. The Securitisation Fund’s financial agent, payment agent and account bank, is BBVA. Ernst & Young Abogados has acted as legal advisor and EY Servicios Corporativos as financial advisor to the participants in the incorporation of the Securitisation Fund and the registration of the bond issue with MARF.

The issues have been assigned credit ratings of AA (sf) for the class A bonds by Fitch Ratings Ireland, Sucursal en España, and AA (sf) for the class A bonds by DBRS Ratings GmbH.

SWK Bank is a German financial institution that specialises in offering customised lending and deposit solutions. It has more than 20 years of experience in the provision of Business Process Outsourcing (BPO) services, where it collaborates with other banks and Fintech companies, with which it has participated in transactions worth more than 25 billion euros and manages assets worth 10 billion euros. Its strategy is strongly committed to digitisation and online banking.

TdA is a Securitisation Fund Management Company incorporated in 1992 and registered in the Special Register of the Spanish stock market supervisor - CNMV. Throughout its history, it has carried out more than 180 securitisation transactions and currently manages funds that hold fixed-income instruments issued with an outstanding balance of close to 57 billion euros.