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.

  • 22 Mar 2013

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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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 1,505.59 4 20.86%
2 SG Corporate & Investment Banking 1,292.64 1 17.91%
2 Rabobank 1,292.64 1 17.91%
4 Wells Fargo Securities 760.56 2 10.54%
5 BNP Paribas 598.25 2 8.29%