SCGA prices but demand subdued by tight spreads
Santander Consumer Bank Germany got its auto loan securitisation, SCGA 2013-1, safely away on Tuesday, pricing flat to secondary levels despite a difficult market backdrop when books opened on Monday morning.
But bankers on the deal also said there were more signs that some accounts particularly from the Netherlands were choosing not to participate in core auto deals because of the lack of yield.
"Some fund managers are dropping out of buying auto ABS because spreads are
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