Santander USA takes in tenders of $485.87 million 2.7% notes

By Wendy Van Sickle

Columbus, Ohio, July 2 – Santander Holdings USA, Inc. received and accepted tenders of $485,872,000 of its $663,239,000 of outstanding 2.7% senior notes due May 24, 2019 by the final deadline for its offer for any and all of the notes, according to a company news release.

The company said on June 25 that it was tendering for the notes until 5 p.m. ET on June 29.

The purchase price of $1,000.36 per $1,000 principal amount was set at 11 a.m. ET on June 29 using the 0.875% Treasury note due April 15, 2019 plus 35 basis points for a reference yield of 2.305.

Settlement occurred on July 2 with the purchase for $1,346,000 of notes tendered under the guaranteed delivery procedures to occur on July 5.

Santander USA previously said it was holding the offer in order to retire all or some of the notes before maturity and would fund the purchases using cash on hand.

Santander Investment Securities Inc. (855 404-3636 or 212 940-1442) is the dealer manager. D.F. King & Co., Inc. (212 269-5550, 800-814-2879 or dfking.com/santander) is the tender agent and information agent.

Boston-based Santander Holdings USA is a wholly owned subsidiary of Madrid-based Banco Santander, SA.

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