October 25, 2012 - Assignment

Santander launches first Swedish securitisation of auto loans

Santander Consumer Bank AS has launched an SEK 4.5 billion term securitisation of a portfolio of Swedish auto loans, using an Irish special purpose company named Svensk Autofinans 1 Limited as issuer.

The deal is the first public ABS (asset-backed securities) transaction of its kind involving Swedish auto assets. Santander Global Banking and Markets was the arranger and Santander and HSBC were joint lead managers. The Class A floating rate notes are rated AAA by Fitch Ratings.

Santander Consumer Bank was advised by Mannheimer Swartling and the firm’s team was led by partner Mattias Lampe, primarily assisted by tax partner Martin Nilsson and associates Anna Engquist, Amanda Skalin, Sara Ulriksen and Carl Johan Zimdahl.