Santander’s Finnish auto ABS prices, SG hits pipeline
Société Générale is next in line to launch an auto loan ABS, after it announced a deal from its German Red & Black shelf. Meanwhile, Santander Consumer Finance’s Finnish arm priced its Kimi 2013-1 auto loan securitization.
Joint lead managers on Santander’s Kimi trade were Santander, Bank of America Merrill Lynch and Citigroup. They priced the 1.18 year €439m fixed rate class ‘A’ tranche at one month mid-swaps plus 58bp to yield 0.802%. These senior notes were rated triple-A by Moody’s and Fitch Ratings.
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