DALLAS, April 1, 2015 /PRNewswire/ -- Santander Consumer USA Holdings Inc. (NYSE: SC) ("SCUSA" or the "Company"), a full-service, technology-driven consumer finance company focused on vehicle finance and personal lending products, today announced the sale of $576 million in consumer vehicle leases to a U.S. subsidiary of a large international bank. Under the terms of the transaction, SCUSA will continue to service these assets. "Our transaction demonstrates SCUSA's ability to place assets across a broad continuum of investor types and demonstrates another step in our development of a comprehensive consumer finance marketplace," commented Tom Dundon, the Company's chairman and chief executive officer. "We place and service assets with more than 150 investors including pension funds, traditional and alternative asset managers, insurers and nationally regulated depositories." Jason Kulas, SCUSA's president and chief financial officer, added, "We approach our business on a best execution basis. While we find the economics of retaining leases to be attractive, this transaction offered us a unique opportunity to achieve growth in our capital-light, third-party servicing business while optimizing capital allocation." About Santander Consumer USA Holdings Inc. Santander Consumer USA Holdings Inc. (NYSE: SC) ("SCUSA") is a full-service, technology-driven consumer finance company focused on vehicle finance and personal lending products. The Company, which began originating retail installment contracts in 1997, has a serviced finance portfolio of more than $41 billion (as of December 31, 2014), has more than two million customers across all credit grades, and is headquartered in Dallas. (www.santanderconsumerusa.com) To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/santander-consumer-usa-holdings-inc-announces-576-million-lease-transaction-300059774.html SOURCE Santander Consumer USA Holdings Inc.
Santander Consumer USA announces $$576 million consumer vehicle lease transaction to a US subsidiary of a large international bank.