Santander Uses ECB Support to Sell ABS on Finnish Car Loans
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Banco Santander SA will capitalize on growing interest for asset-backed debt by selling securities based on car loans in AAA-rated Finland.
The bank’s Finnish unit plans to sell about 500 million euros ($630 million) of the instruments by year-end, Pekka Paettiniemi, head of Santander Consumer Finance in Helsinki, said by phone. Demand is underpinned by the European Central Bank’s plan to buy ABS, as well as Finland’s top credit rating, he said.