Banco Santander is getting ready to initiate an initial public offering (IPO) of its American auto finance arm just months after it had had a very successful Mexican IPO.
Based out of Fort Worth, Texas, Santander Consumer USA provides consumer financing in more than 13,000 dealers across America. Its loan portfolio contains around $18 billion. Industry observers believe that the auto finance company will go for a valuation of around $6 billion when it goes public sometime in the first six months of 2013.
The company took in $4 billion in its Mexican IPO.