Loan & DebtJun 3, 2026, 09:12 AM
Banco Santander issues $1.5B 7.250% Contingent Convertible Preferred Tier 1 Securities
AI Summary
Banco Santander, S.A. has issued $1.5 billion in 7.250% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities. These securities are being filed for incorporation into the company's Registration Statement on Form F-3. The issuance is supported by an Underwriting Agreement dated May 27, 2026, and governed by a Contingent Convertible Capital Securities Indenture dated June 3, 2026.
Key Highlights
- Banco Santander issued $1.5 billion in 7.250% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities.
- The securities have an aggregate liquidation preference of $1,500,000,000.
- The issuance is governed by a Contingent Convertible Capital Securities Indenture dated June 3, 2026.
- An Underwriting Agreement for the issuance was dated May 27, 2026.
- Related documents are filed for incorporation into the Form F-3 Registration Statement.
Price Impact
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