Santander last month priced Kimi 7, a €665.3m true sale significant risk transfer transaction that securitises a portfolio of Finnish auto loans. The deal was executed for both capital relief and liquidity purposes, with the bank selling both the mezzanine and senior tranches.
Compared to previous Kimi deals, mezzanine investors don’t benefit from any excess spread.
Not yet registered? Join today to access SCI Content.