SECURITISATION FUND BBVA CONSUMO 11 FT

BBVA issues its eleventh consumer loan securitization fund

On March 15, 2021, the consumer loan fund BBVA Consumo 11 FT was registered, representing the eleventh issuance by BBVA in this loan type.

The structure of the Fund consists of two unique Series of Bonds, for a total amount of 2,500 million euros, and a Reserve Fund for 125 million euros. This structure has made it possible to maximize the amount of Series A (2,350 million euros), which is the main objective of the Issuer, since it is a self-retained transaction to be discounted in the ECB, obtaining ratings from Moody's, DBRS and Scope of “Aa1 (sf)”, “AA (low)” and “AA- (sf)”, respectively for this Series.

Undoubtedly, taking into account that the mentioned Series has a credit enhancement of 11%, it is a clearly successful in the search to maximize the discount, which combined with the objective rating of AA category, makes a highly optimized structure and a significant precedent for future operations.

Europea de Titulización, S.A., S.G.F.T.

March 2021