VALENCIA (VP). The BME Fixed Income Market, MARF, has admitted to trading a new bond issue of the SWK Comsumer 2021-1 Securitization Fund for an amount of 400 million euros. The issue is divided into two series: class A, of 352 million euros, class B, of 48 million, which will have annual interest rates of 0.25% and 2.25%, respectively. The assets of the Fund consist of a portfolio of German consumer loans originated by the German financial institution Süd-West-Kreditbank Finanzierung GmbH (SWK Bank). The Fund is managed by Asset Securitization (TdA).
SWK Bank acts as Coordinating Entity and Sole Director of the issue. The MARF Registered Advisor will be TdA. The Financial Agent of the Securitization Fund, payment agent and bank of accounts, is BBVA. Ernst & Young Abogados has acted as legal advisor and EY Servicios Corporativas as financial advisor to the participants in the constitution of the Securitization Fund and the registration of the bond issue in the MARF. The issues have a credit rating assigned by Fitch Ratings Ireland, Sucursal en España, of AA (sf) for class A bonds, and AA (sf), in class A by DBRS Ratings GmbH.
SWK Bank is a German financial institution specialized in offering personalized solutions in loans and deposits. SWK Bank has more than 20 years of experience in providing BPO (Business Process Outsourcing) services in which it collaborates with other banks and fintech companies by making their systems available to them, where it has participated in operations for more than € 25,000 million and it has 10 billion assets under management. Its strategy follows a strong commitment to digitization and online banking.
TdA is a Securitization Fund Management Company established in 1992 and registered in the Special Registry of the CNMV. Throughout its history it has carried out more than 180 securitization operations and currently manages Funds that hold fixed income instruments issued for an outstanding balance of close to 57,000 million euros.
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