A new €402.4 million ($532 million) Finnish auto loan securitization is marketing this week from SCF Rahoituspalvelut Limited.

Moody's Investors Service will rate the notes and has assigned a provisional 'Aaa' rating  to the class A notes due January 2020. A subordinated and unrated class B is also expected to be issued.

The deal is backed by auto loans made to obligors in Finland by Santander Consumer Finance Oy, which is a wholly owned subsidiary of Santander Consumer Finance S.A.

This is the first Moody's-rated public securitization transaction sponsored by Santander Consumer Finance Oy and the first Moody's-rated public Finnish ABS auto ABS.   

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.