Santander Reveals Key Details on Debt Securities Offers

Santander Reveals Key Details on Debt Securities Offers

Banco Santander, S.A. has officially announced the pricing details regarding offers to purchase cash for its outstanding debt securities. The offerings encompass various categories of notes including the 3.496% Senior Preferred Fixed Rate Notes, the 2.746% Senior Non Preferred Fixed Rate Notes, the 5.147% Senior Non Preferred Fixed Rate Notes, and the 1.849% Senior Non Preferred Fixed Rate Notes. These notes collectively form a significant part of Santander's financial strategies and obligations.

Overview of the Offers

The Offers are structured in a way that allows investors to tender their notes for a specified consideration, which amounts to each individual type being assessed on its own merit. As such, the Consideration for each series of notes validly tendered before the specified expiration will vary; this differential approach serves to better facilitate the interests of both Santander and its investors.

Detailed Consideration Table

Each series of notes has specific pricing information. For instance, the Consideration set for the 3.496% Senior Preferred Fixed Rate Notes due in 2025 is detailed in the table below:

Acceptance Priority Level: 1
Description of the Notes: 3.496% Senior Preferred Fixed Rate Notes
CUSIP/ISIN: 05964HAP0/ US05964HAP01
Principal Amount Outstanding: $1,250,000,000
Maturity Date: March 24, 2025
Reference U.S. Treasury Security: 3.875% due March 31, 2025
Bloomberg Reference Page: FIT3
Reference Yield: 4.323%
Fixed Spread (Basis Points): 10
Consideration for $1,000 Principal Amount: $998.20

This method is equally applied for all other series of notes that Santander is offering in this round.

Key Dates and Terms

Importantly, the Offers commenced recently and are set to expire at 5:00 p.m. New York City time on the specified expiration date. The window for tendering notes follows strict guidelines, and interested participants should be aware of any intermediary deadlines that might fall even sooner than those set by Santander.

Interest Payments and Settlement

Any notes that are validly tendered will be eligible for accrued and unpaid interest up to, but not including, the anticipated settlement date, which is forecasted shortly after the expiration deadline. This system ensures that investors will receive fair compensation for their holdings should they decide to sell them back to the bank.

Conditions and Process for Offers

It's crucial to note that Santander's acceptance of any purchased notes is subject to meeting specific conditions that are thoroughly outlined in the Offer to Purchase. Furthermore, Santander retains the right to modify or terminate any of the Offers independently, strengthening its position in this financial landscape.

Contact Information for Queries

For those seeking to understand the Offers in greater depth, Santander US Capital Markets LLC serves as the Dealer Manager, and D.F. King & Co., Inc., acts as the Information and Tender Agent. All inquiries related to this process should be directed to the mentioned firms at the provided contact details.

About Banco Santander

Banco Santander is not just an ordinary bank. Founded in 1857, it stands as one of the most significant financial institutions globally. With operational sectors that range from retail banking to corporate and investment banking, Santander is evolving continuously to remain a leading player in the market. The bank has also made commitments toward sustainable financing, aiming to raise substantial figures in green financing to nurture responsible banking.

Frequently Asked Questions

What are the key dates for the Santander debt offers?

The offers started recently and are set to expire at 5:00 p.m. New York City time on the specified expiration date.

Who can participate in the Offers?

The Offers are designed for qualified holders of the notes who are looking to tender their investments under the outlined terms.

How is the Consideration calculated for each note?

The Consideration for each series of notes is predetermined and varies depending on the specific financial metrics associated with each note.

What if I have more questions regarding the Offers?

For further inquiries, you can contact Santander US Capital Markets LLC or D.F. King & Co., Inc. for detailed information.

Why is Santander focusing on sustainability?

Santander aims to build a responsible banking model and has pledged to raise significant financing for green initiatives as part of its corporate social responsibility.

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