ABS

NAB Shops Brazilian DPR

Published April 25, 2011 1:31 PM EDT 1 Min Read

An ABS backed by diversified payment rights (DPRs), through Banco Santander Brazil, is currently making the rounds on the private placement market.

The bank is looking to raise $100 million for a seven-year final, 4.88-year average maturity, via National Australia Bank, a source familiar with the situation confirmed. Bids on this transaction are expected on circle Thursday.

The DPR launched by Santander’s Brazilian unit is rated ‘A’ by Fitch Ratings.

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