Santander Consumer Bank €1.4 billion SC Germany Consumer 2015-1 securitisation

Overview:

• Santander Consumer Bank securitised €1.4 billion in consumer loans through its SCGC 2015-1 vehicle. 
• The notes were issued in five classes - three fixed rate, two floating - which all mature in December 2028.
• The volume and coupons of the notes were as follows: Class A - €1.155 billion, 0.35%; Class B - €101.5 million, 1%; Class C - €39.2 million, 1.75%; Class D - €45.5 million, one month Euribor plus 5.45%; and, Class E - €58.8 million one month Euribor plus 10.70%.
• The notes were listed on the Luxembourg Stock Exchange. 
• Unicredit was arranger, and joint lead manager together with Santander. 
• Wilmington Trust acted as trustee. 
• The Bank of New York Mellon was the Luxembourg listing agent. 

Ben Naylor - Regional Editor