Santander sells Silk Finance auto ABS deal

Santander_PA_230x150_13Jan2020
By Tom Brown
16 Jul 2020

Santander Consumer Bank has priced a fully pre-placed Portuguese auto ABS transaction from its Silk Finance programme, with the new deal becoming the first in the shelf to see the notes ‘A’ through E’ sold, in spite of the continuing pandemic crisis.

Silk Finance 5 is backed by a €600m pool of Portuguese auto loans, 90% of which are fixed-rate, extended to mostly private borrowers who make up 91.5% of the pool.

All loans subject to a covid-19 payment holiday were excluded from the deal.

The issuer opted for a ...

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