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Santander Consumer USA prices IPO at $24, raising $1.8 billion

January 22, 2014
SC

Santander Consumer USA, a leading provider of subprime auto loans in the US, raised $1.8 billion by offering 75.0 million shares (all insider) at $24, the low end of the revised range of $24 to $25. Santander Consumer USA plans to list on the NYSE under the symbol "SC". Citi and J.P. Morgan acted as the global coordinators and joint bookrunning managers on the deal.