Banco Santander to spin off US auto loan division in a $50 million US IPO

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Santander Consumer USA Holdings, a division of Spain's Banco Santander that provides indirect, direct and third party originations and auto loan servicing, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering, though that figure is likely just a placeholder. We estimate that the offering will raise between $500 million and $1 billion, at least.

The Dallas, TX-based company, which was founded in 1997 and booked $3.1 billion in interest income for the 12 months ended March 31, 2013, has yet to announce an exchange or a ticker. The initial filing did not disclose the bookrunners or the pricing terms of the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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