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Optimism regarding the Spanish securitisation market


  • Conference participants included eminent figures such as the Director General for the Treasury and Financial Policy at the Spanish Treasury, Elena Aparici Vázquez de Parga, and the former Minister for Economic Affairs, Industry and Competitiveness, Román Escolano.
  • All the experts agreed that 2019 will be crucial in revitalising the securitisation market. The entry into force of the new STS regulatory framework within the European Union will be a decisive step towards regulating this area.

HAYA Titulización, S.G.F.T. – a leading player in the Spanish securitisation market, with 20 years’ experience in the field – held its second annual Securitisation Conference this morning. At the event, which was attended by more than 150 people, experts offered a global perspective on this vitally important time for the securitisation sector. Participants outlined legislative developments in the sector and examined the challenges and opportunities facing it in a new market environment, highlighting the need to revitalise the market in order for credit flows to function properly.

Carlos Abad, Chairman of Haya Titulización and CEO of Haya Real Estate, welcomed delegates to the conference, which was held at the Casa de América. In his address he noted that “there are huge opportunities for growth in the securitisation market, both nationally and internationally. That is why Haya Titulización is working to develop a sustainable market and to remain a market leader in terms of the quality, service and innovation we offer our clients.”

The opening address was given by Elena Aparici Vázquez de Parga, Director General for the Treasury and Financial Policy at the Spanish Treasury. Román Escolano, formerly Minister for Economic Affairs, Industry and Competitiveness, gave a keynote speech.

The event was brought to a close by Juan Lostao, a Director of Haya Titulización. He emphasised that “the present economic situation has encouraged a renewed appetite for investment; this factor, coupled with the quality of assets, means we can look forward to the development of a stable securitisation market”.

On the conclusion of the conference the Chief Executive of Haya Titulización, Jesús Sanz, described the event as a great success, both in terms of the number of people attending and the quality of the speakers. He drew particular attention to the comments by the Treasury “which voiced its support for the new STS and ESMA regulations and also emphasised the important role that management companies have played in this market, and the need to use vehicles to achieve structured financing.” Sanz also pointed to the institutional support demonstrated by Román Escolano, “who underlined the need for a strong securitisation market if the Spanish economy is to perform properly”.

About Haya Real Estate

Haya is one of the leading company in the management of Non-Performing Loans and Real Estate Owned assets (NPLs and REOs, respectively) in Spain. The company manages assets as well as financial and real estate vehicles for a wide variety of clients, from financial institutions to international investors. In total, Haya is responsible for €26.1 billion of AuMs (Assets under Management) as of June 2022.

Haya offers products and services covering the entire value chain of NPLs and REOs. Its NPL services focus on the management of corporate or individuals’ debt, with a high degree of specialization in the valuation, management and recovery of loans and the conversion of non-performing loans into real estate owned assets. Real estate services are delivered to a portfolio of ~163,000 assets, and they range from asset boarding, property management, maintenance and valuation to its commercialization. Haya's services are fully integrated into the lifecycle of each NPL / REO, and also involve portfolio advisory and underwriting capabilities, rental management, land management, completion of works in progress.

Haya’s main clients include financial institutions such as BBVA, Caixabank, Cajamar, and international investment funds such as Cerberus Capital Management. The company employs ~661 professionals, featuring an extensive sales network that covers the entire Spanish geography. Haya has invested in cutting-edge technology, data analysis and IT tools focused on industrialization, process efficiency and performance delivery which are key to deal with current market environment.

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