Santander Consumer USA is kicking off what is expected to be a strong year for auto ABS issuance with a  $1.25 billion securitization of receivables.

The deal, Santander Drive Auto Receivables Trust 2013-1, is structured with $184 million of A-1 notes; $355 million of A-2 notes; $294 million of A-3 notes; $137 million of B notes; $169 million of C notes; $109 million of D notes and $42.3 million of E notes.

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