Santander Plans to Sell Another Auto Deal

June 22, 2012, 1:52 p.m. EDT 1 Min Read

Santander Consumer USA plans to sell a $1.4 billion auto ABS under its Santander Drive Auto Receivables Trust 2012-4.

For the Securities and Exchange Commission (SEC) filing on the offering, please click here.

The transaction is backed by motor vehicle retail installment sale contracts and/or installment loans that are secured by new and used automobiles, light-duty trucks and vans, mostly all of which are to subprime borrowers, as well as funds on deposit in the reserve account, according to the SEC filing.

The deal's undewriters include Barclays Capital, Credit Suisse and JPMorgan Securities.

Solely with respect to the transaction's Class A notes, Deutsche Bank Securities and Santander are also underwriters on the offering.

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