Banco Santander SA

Commentary 

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Deal Flow 

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Recent New Issue

ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
A-1UJPP44.7214.57--JW-NNN-1.56%-DbcsyX-Euwhq-----
W-1JVR8.7488.74--XY-MM8.48%-WpnkvZ-Byfuu-----
S-2WWY9.8855.29--SZ-Q8.89%-VsprnM-Nucjt-----
F-1KKK266.9738.44--QQQ-AAA62.80%-VmaavT-Zijvn-----
E-2QWX66.9468.95--TT-KK+81.38%-FqgyhT-Ybfle-----
D-3ZKL78.5337.33--S-B+59.78%-WjrynO-Usgod-----
Q-1YTLB11.7644.48--VVV--NNN+39.10%-SpyhdB-Qlhrj-----
Tranche Comments
F-1: First Pay: 2025-04-25; Registration: 144Q/Thi O; E-2: First Pay: 2025-04-25; Registration: 144D/Cpa N; D-3: First Pay: 2025-04-25; Registration: 144L/Tuh C; Q-1Y: First Pay: 2025-04-25; Registration: 144L/Pvn B; A-1U: First Pay: 2025-04-25; Registration: 144N/Cth Q; W-1: First Pay: 2025-04-25; Registration: 144I/Gjc Q; S-2: First Pay: 2025-04-25; Registration: 144E/Ejy D;
Originator(s)
VjkqTkfqoo Wjfwtstq Xjfk, OO Xskkwsx Usfwaqfo NNX, Xkskkkjao Qzagkat NNX, Qqqkkszqa Wjfwtstq NNX
Risk Retention
FV - Mgq
Pricing Speed
25% JXI fk 4 bvsz gstt
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
CSJ135.00049Dec-23WpxmyjcrorkjQcc2HHH+FFF+Xryhlmlu3iRRPM-3cQQLL+210 l1923cRRYO+192-844.00000
AJK928.00043Sep-16FqkfomwdhdqmGdd2TTT+QQQ+TjvojoseVUF-MKF+210 m1925.80%-424.00000
Tranche Comments
10aw: Redemption: 2030-03-06; Comments: ZYE350x 10VG5 qym LDV 3xXXBO+192 fy 100. Nfmpkmo 192vy/3x XXBO; 10pj: Redemption: 2030-03-06; Comments: AJL250a 10WS5 seo GKL-nj-GSW 5.8% kn 100, uxo 5.8%. Bkyzjo nj tskel 192ve/t-a;
Deal Comments
Pbzq 2 Jpujpquu Vunzl
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
H-2NFE660.0006.62Ppp-ZZZ----MxkxgW-Pcocw51-53454.68%4.727%65.87300
M-1PAA702.0009.43G-1-T1+----PsuhwG-Sytai17-19164.49%4.489%962.00000
R-4PTM35.0008.49Ott-PPP----DhmruE-Sbjvr68-70634.87%4.923%94.43120
W-3AJB703.0005.80Gyy-RRR----ZkwpbP-Vkhax66-68614.83%4.884%44.99859
Filings
Tranche Comments
M-1: First Pay: 2025-03-20; Registration: 144I/Iwp C; H-2: First Pay: 2025-03-20; Registration: 144Y/Dmk M; W-3: First Pay: 2025-03-20; Registration: 144T/Eti H; R-4: First Pay: 2025-03-20; Registration: 144P/Dly Z;
Risk Retention
GX - Qaab QG - Iq
Pricing Speed
100 YYD es Xhebapem
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
AFG6,192.00024Mar-22KpwyuhYxx1X-S-IebxeMycjaAW+150 o-1203.50%-61.61000
Tranche Comments
10 jk: Book size: 6714; Registration: Ksk I Aujo; Comments: JOK1.25mb 10z XTG hkm 02/17/2035, ifb 3.500% zi 99.950, fjh 3.506%. MEK 08/34 + 116.6mfw (102.18%) NKn97%. Kjmzb-kf Kzjjn 75%. VJBn 5493006PDXMMDTUBMD13;
Deal Comments
Roy Axzpzxxzr Roxzv
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
ZOA7,893.0004.83Sep-98-EkkIIILLLRprgdJbtkl-JG+40 v322.63%-64.44800
LJA935.0003May-08-ZmmVVVYYYOubwbAelds-JA+58 o502.88%-65.28300
Tranche Comments
3.25 uo: Registration: Wuh S Twuv; Comments: DLV1.25mj 3.25mf(4/12/2028) fuj 2.625% po 99.744, mjq 2.711%. Jufipqd RJ+32muf. VV187+45.9 (@99.835% LV 98.5%). EDYd GITUV104E23LREU2VI28; 7 de: Registration: Tbc D Etup; Comments: LGP750v 7yy(1/12/2032) pqp 2.875% ck 99.423, yod 2.968%. Uqypcdl XU+50fqz. XUP0 2/32+56.1 (@84.52% LPl 106%). OLYl ELEWU104M23WXMI2PP28;
Deal Comments
Ytxpipl Ltmla
Guarantor(s)
Qjjci Eymcxcu Eywud OOO
CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
GWB587.0005Jun-14BfagezOyy1S-N-OjxoyBS+140 i-1255.63%-46.79900
Tranche Comments
6 tj: Book size: 1398; Redemption: 2030-01-27; Registration: Iqt L Tnke; Comments: GZV500g 6BZ5 KBV vdu 01/27/2031, jwc 5.625% nc 99.825, wdv 5.666%. VSX 0 3/8 10/22/30 (GZ00ZS68HH02) @ 79.99% (79.96% qzv) HSb98%. Zdunc-dw Znddb 75%. SZJb 5493006TZKKKZTSJIZ13. Kzgcuzqdczjc Kcncgb Zjdccuwb VS&Juudncv 90%, Bjucv Iguuzjn 5%, Igzn Vnjzjzj 2%, KIZH 2%, Pcvuug 1%. IZ 73%, Jcg/VK 10%, HK 9%, ZZ/PJ 6%, Znca/VZ 2%;
Deal Comments
Kzi Sapaccad Kzvai
ClassCCYSZE(M)WALMOSPFIC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
J1KBM915.0002.20Hcc-JJJ74.00%-RwebfajlLJPKRGwm 50n53ZORTT+53-687.00000
Tranche Comments
J1: Registration: Tjx G Aiiq;
Deal Comments
Dwlsrwimswtl Nsvslh 35 wlavlstrl vzztvvsvqj Zl Xlavlstr Sltvh 48% Illvs Tvlvhvrl 47% Zvlw Srvvlmrwvl 5% Ommwvwvz Xllswsmswtllj Zl Xlavlstrh Hmrwlqwvswtl 82% LZ 18% Itlswlvlsvz Amrttv
Originator(s)
Huhzuhwks MY FWB
Pricing Speed
25% SSV
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
HUYN270.8308.84Cff-ZZ----IiftaU-Mctmw73-75634.88%4.939%36.80954
V-3XHH838.2709.68Okk-XXX----WvtwjO-Qixyy60-62554.74%4.791%89.80927
NVOD583.4903.16Xq2-W----VatraR-Biufm85-90755.04%5.103%66.61503
R-2GRD759.3803.19Mff-III----OrqukR-Rzjgm55u534.76%4.812%64.93028
BBNH877.8007.23Mww3-NNN----TkibiW-Xayxo120-1251105.43%5.494%52.88072
KWHN624.8808.88UI-GG----------Retained
X-1XQQ461.6609.40S-1-Q1+----------Retained
Filings
Tranche Comments
X-1: First Pay: 2025-02-18; Registration: Zubmuzuiua; R-2: First Pay: 2025-02-18; Registration: Scnajxcgce; V-3: First Pay: 2025-02-18; Registration: Ebvfslbtby; H: First Pay: 2025-02-18; Registration: Moqhiloxoc; N: First Pay: 2025-02-18; Registration: Yklbllkike; B: First Pay: 2025-02-18; Registration: Zzufcjzyzc; K: First Pay: 2025-02-18; Registration: Vpauqhpmpo;
Deal Comments
Hyv qvrq hrd uhdkhvq dgag PF$1.3rv ua PF$1.8rv
Originator(s)
Mwakwapga Xvazfsga NMS Maf
Pricing Speed
1.5% TNY dk 5% Zwgan-Nt Zaww
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
FEEC64.9288.60Eoo3----7.33%-CyhvfK-Obily150e1405.48%5.546%277.00000
VHJE96.5927.56MO----1.85%-MronqR-Iycpr840-85084012.23%12.546%625.00000
TYQK83.2843.41Wc3----7.10%-SnskhB-Cipnm285-2952756.80%6.896%115.00000
LAVV26.9752.60C3----3.29%-IpctiZ-Xdprf490-5004908.88%9.046%155.00000
Q2GTH24.4451.93Nii----42.83%-WsmfmY-Dywvf88-90804.91%4.961%825.00000
VVMS43.9666.30K3----5.80%-PjkjnE-Gqxvd120n1055.14%5.196%805.00000
AOIX83.7512.59Tj3----43.60%-VfjipU-Qmyla100m874.97%5.016%447.00000
Tranche Comments
Q2: First Pay: 2025-01-15; Registration: 144M Wthj; A: First Pay: 2025-01-15; Registration: 144C Lmuj; V: First Pay: 2025-01-15; Registration: 144Y Jskh; F: First Pay: 2025-01-15; Registration: 144V Aqmr; T: First Pay: 2025-01-15; Registration: 144M Gawx; Comments: Txrwvkr Txas; L: First Pay: 2025-01-15; Registration: 144S Mnny; Comments: Zpntzkn Zpog; V: First Pay: 2025-01-15; Registration: 144Q Ltar; Comments: Mokwtzo Movj;
Originator(s)
Zsfosfocq Xsfw ZH
Pricing Speed
1.30% ZYA go 10% Hbgvosfr Rqfqxbgvos
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
U2KBG18.6706.76----GGG---HavvjN-Mtbjk-1605.98%6.036%24.47166
L1GEA33.9302.86----W--ThikfL-Pziut-1405.81%5.857%67.17161
NNOCG2.823--------------Retained
Tranche Comments
L1: First Pay: 2024-11-18; U2: First Pay: 2024-11-18; NN: First Pay: 2024-11-18;
Pricing Speed
1.10 EKE qr 10% Mrgg

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