GlobalCapital awards Santander Germany for ‘Deal of the Year’ and ‘Issuer of the Year’
ABS team honoured for consumer credit ABS
Large-volume transaction during Covid-19 pandemic convinced market participants
Mönchengladbach/Germany, June 2nd, 2021. As part of the renowned "European Securitization Awards 2021", Santander Consumer Bank AG (Santander Germany) receives two important awards from the research company GlobalCapital:
Last October, Santander Germany, a 100% subsidiary of Banco Santander, priced one of the largest cash risk transfer deals in the European ABS market. Due to high demand for the consumer credit ABS "SC Germany 2020-1", securities in the amount of EUR 1.8 billion were placed with around 40 international investors across all tranches. Tomasz Osipowicz, Head of Securitisation at Santander Germany, explains: "A first German public consumer loans ABS, large size and offering full cap stack during the Covid-19 pandemic was probably something not many market participants expected. However, our team recognized the potential and was convinced of its innovative approach."
For Andreas Glaser, CFO Santander Consumer Bank AG, winning the two prestigious awards reflects the long standing expertise and excellent team work. He underlines that “ABS Issuances will remain a key strategic instrument within our capital market approach to steer both: liquidity and capital of the bank.”
Santander has already been a leading market player in the past with its securitization of auto loans, setting standards in this segment. Tomasz Osipowicz sees the awards as an additional motivation to place innovative and convincing securitizations to further secure Santander Germany’s strong position among the leading ABS issuers in Europe.
About the ‚ABS Deal of the Year’
With the consumer loan ABS "SC Germany 2020-1", the Santander ABS team responded to rising interest of investors in a German consumer loans deal. The transaction work started during the peak of the first wave in the Covid-19 pandemic in April 2020.
The deal was comprised of different classes, whilst a EUR 40.5 million equity tranche was pre-placed via bookbuilding syndication. Investors initially committed EUR 1.4 billion via the public offering. Due to high demand, the deal was upsized to EUR 1.8 billion.
About the Securitization activities of Santander Consumer Bank AG
Santander Consumer Bank AG can trace its origins back to 1957 and has grown to become the largest non-captive consumer bank in Germany with a EUR 50.1 billion balance sheet, 3.9 million customers and more than 200 branches*.
In the securitization market, Santander Germany began issuing private deals in 1997. In 2006, the bank issued its first public transaction from its flagship auto program SCGA and added auto, consumer and vehicle collateral securitizations in 2008. Last year, Santander Germany launched its SCGM securitization platform with a EUR 5 billion program.
*according to annual report Santander Germany, 2020
Press Contacts: Santander Germany
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