Santander UK’s 144A auto ABS motors ahead as oversubscription drives price tightening

Bumper US demand for Santander UK’s Motor 2012-1 means the 144A auto ABS is set to be priced on Wednesday at spreads well inside initial talk.

  • 12 Sep 2012
Leads Bank of America Merrill Lynch, Citi and Santander GBM have drastically tightened the spread on two of the three dollar tranches on the first ever UK auto deal to be offered in 144A format. They are set to finish pricing the deal late on Wednesday morning, New ...

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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 23.31%
2 SG Corporate & Investment Banking 1,292.64 1 20.01%
2 Rabobank 1,292.64 1 20.01%
4 BNP Paribas 598.25 2 9.26%
5 TD Securities Inc 241.54 1 3.74%