An ABS backed by diversified payment rights (DPRs), through Banco Santander Brazil, is currently making the rounds on the private placement market.
The bank is looking to raise $100 million for a seven-year final, 4.88-year average maturity, via National Australia Bank, a source familiar with the situation confirmed. Bids on this transaction are expected on circle Thursday.
The DPR launched by Santander’s Brazilian unit is rated 'A' by Fitch Ratings.