Corporate ActionJun 10, 2026, 06:16 AM
Banco Santander Tender Offer for AT1 Securities: $701.6M Accepted
AI Summary
Banco Santander, S.A. announced the successful results of its tender offer for its U.S. dollar-denominated Additional Tier 1 Securities. The company accepted $701.6 million aggregate principal amount of the 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities, which were validly tendered. This repurchase was part of an offer to acquire up to $850 million of these securities, with the accepted amount being cancelled. The remaining outstanding principal amount after the offer is $298.4 million, and the settlement is anticipated on June 11, 2026.
Key Highlights
- Banco Santander accepted $701.6 million aggregate principal amount of its 4.750% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities.
- The tender offer aimed to purchase up to $850 million of the outstanding securities.
- Securities were purchased at a price of 100.1% of their nominal amount.
- The aggregate principal amount of these securities remaining outstanding after the offer is $298.4 million.
- The settlement date for the accepted securities is expected to be June 11, 2026.
Price Impact
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