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.
