Santander adds €500m to monster Spanish consumer ABS

Santander adds €500m to monster Spanish consumer ABS

Tom Brown

February 11, 2021 03:30 PM

Santander_UK_PA_575x375_040220 — File photo dated 14/02/15 of Santander signage above a branch. Santander UK has posted a 37% drop in pre-tax profits to £981 million for 2019 after taking a £169 million hit for payment protection insurance (PPI) claims and costs for its overhaul plan. | Laura Lean/PA Wire/PA Images

Santander has added a further €500m to what was already an €1.2bn deal, making Santander Consumo 4 the biggest ABS trade of 2021 so far. Final pricing for the increased €1.26bn class ‘A’ tranche came in at 48bp over three-month Euribor.

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Topics

Santander Coronavirus Spain Deutsche Bank ABS Securitization Europe UniCredit EMEA

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Tom Brown