Santander announces £917million commercial real estate loan securitisation

Santander has today announced a £917million commercial real estate loan securitisation. The deal (which closed on 22 December 2017), a collateralised loan obligation, Red1 Finance CLO 2017-1 Designated Activity Company (Red1), is one of the first post financial crisis synthetic transactions of UK commercial Real Estate assets.

Red1 was specifically structured as a synthetic transaction to allow the portfolio and the servicing to remain with Santander thus limiting any impact on clients. All details of assets within the deal are confidential and will not be shared with third parties outside the transaction to ensure we continue to offer all our customers the same level of support and service.

Andrew Whelan, Managing Director, Real Estate Finance said: “As we move into 2018, following a successful year, we are looking forward to strong growth and will be increasing our appetite for real estate lending. Red1 assists us in continuing to support new and existing clients in meeting their financing needs.”

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Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 30 June 2017, the bank serves around 14 million active customers with c19,500 employees and operates through 826 branches (which includes 61 university branches) and 65 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.

About Us 
Banco Santander
 (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful market share in 10 core countries in Europe and the Americas, and is among the world’s top banks by market capitalization. At the end of June 2017, Banco Santander had EUR 1.65 trillion in managed funds, 131 million customers, 13,800 branches and 200,000 employees. Banco Santander made attributable profit of EUR 3.6 billion in the first half of 2017, an increase of 24% compared to the same period last year.

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