Europea de Titulización has established BBVA CONSUMER 2026-2 FT, a new securitisation transaction under its management, backed by consumer loans originated by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), with a total issuance amount of €1,515 million. This is the second transaction under the BBVA CONSUMER issuance programme in 2026.
The transaction continues BBVA’s longstanding presence in the securitisation market and is primarily aimed at optimising its regulatory capital through a structure designed to achieve significant risk transfer (SRT). It has also been structured with the aim of meeting the requirements applicable to simple, transparent and standardised (STS) securitisations.
The Fund, established under Spanish law and whose prospectus was registered with the CNMV on 22 October 2026, is backed by a granular portfolio of loans granted to individuals resident in Spain to finance a range of consumer needs. The issuance comprises eight classes of notes, including €1,117.5 million of Class A Notes, assigned the highest credit ratings by Morningstar DBRS (AAA) and Moody’s (Aaa), and carrying a margin of 70 basis points over three-month Euribor.
Europea de Titulización would like to thank BBVA for the trust placed in us, as well as all the parties involved for their excellent work: Société Générale, Garrigues, Deloitte, Linklaters and PCS, whose collaboration and joint efforts have contributed to the successful development of this transaction.
Europea de Titulización, S.A., S.G.F.T.
October 2026