Santander Consumer Finance SA will issue a €912.3 million ($1.34 million) securitization of auto loans.
The deal us called Fondo de Titilizacion de Activos Santander Consumer Spain Auto 2011-1.
It is backed by a portfolio of 85,456 unsecured auto loans granted to 84,975 obligors located in Spain, 97.4% of whom are private individuals, according to Moody's Investors Service.
The rating agency has assigned a provisional rating of 'Aaa' to the series A note, 'Aa3' to the series B note and 'Baa2' to the series C note.
