BBVA executes the Deed of Incorporation of BBVA VELA CONSUMER 2025-1 FT, its third synthetic securitisation fund with a vehicle structure. On this occasion, the transaction has enabled the transfer of risk associated with a EUR 2.5 billion portfolio of loans granted to finance consumer activities.
The transaction is part of BBVA’s strategy for capital optimisation and value creation, and in this respect, SRT (Significant Risk Transfer) securitisations, such as Vela Consumer, play a key role in effectively reducing risk-weighted assets (RWA) and consequently releasing regulatory capital.
The mezzanine tranche of the capital stack, consisting of a single series of CLNs (Credit-Linked Notes) amounting to €131.2 million, attracted significant interest from investors, reflected in a notably high number of participants for a transaction of this nature.
Europea de Titulización expresses its appreciation for the excellent work of all the parties involved, BBVA, Société Générale, Clifford Chance, Deloitte, SVI, and Wiener Börse, whose coordinated action has made it possible to achieve the Originator’s objectives of active credit risk management and capital optimisation.
Europea de Titulización, S.A., S.G.F.T.
June 2025