By Cristal Cody
Tupelo, Miss., June 2 - Banco Santander SA sold €1.86 billion of notes due 2050 in a collateralized loan obligation deal, according to an informed source.
FTA Pymes Santander 8 priced €1,317,500,000 of series A notes at Euribor plus 40 basis points, €232.5 million of series B notes at Euribor plus 50 bps and €310 million of series C notes at Euribor plus 50 bps.
Banco Santander arranged the transaction.
Santander de Titulizacion S.G.F.T., SA will manage the CLO.
The CLO is secured by a portfolio of bank loans originated by Banco Santander to small- and medium-sized enterprises and self-employed individuals based in Spain.
Banco Santander also priced the €500 million FTA Pymes Santander 9 transaction in May.
The global bank is based in Madrid, Spain.
| Issuer: | FTA Pymes Santander 8
|
| Amount: | €1.86 billion
|
| Maturity: | 2050
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Banco Santander SA
|
| Manager: | Santander de Titulizacion S.G.F.T., SA
|
| Pricing date: | May 20
|
|
|
| Series A notes
|
| Amount: | €1,317,500,000
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 40 bps
|
| Ratings: | Moody's: A1 expected
|
| DBRS: A
|
|
|
| Series B notes
|
| Amount: | €232.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 50 bps
|
| Ratings: | Moody's: Baa1 expected
|
| DBRS: BB
|
|
|
| Series C notes
|
| Amount: | €310 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 50 bps
|
| Ratings: | Moody's: Ca expected
|
| DBRS: C
|
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