Santander’s Norwegian auto ABS attracts new investor interest
Santander’s Norwegian consumer finance arm priced its fifth Bilkreditt auto loan ABS on Wednesday, attracting orders from several new investors in the process. After selling two public deals this year, it plans to maintain a similar volume of issuance next year.
Lead managers Credit Suisse, HSBC, JP Morgan, RBC and Santander got off to a solid start on Monday after they tested interest at price thoughts of one month Euribor plus low 40s for the €494m of triple-A rated class ‘A’ notes.
The senior tranche was 1.45 times covered when leads
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