Santander opens books for German auto ABS
Santander Consumer Bank AG opened books for its SC Germany 2013-2 car loan securitization on Wednesday morning, with price thoughts on the senior tranche notably wider than on other recent German auto issues.
The €549m 1.68-year average life class ‘A’ notes have initial price thoughts in the low 50s over one month Euribor. The 4.04 year ‘B’ tranche, of €51m, will be retained by the issuer.
Santander, HSBC, Natixis and UniCredit are joint lead managers. Santander is sole arranger. The deal
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