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Prospect News home > News index > List of issuers S > Headlines for Santander Holdings USA, Inc. > News item |
Santander USA launches cash tender offer for 4.375% trust Piers
By Marisa Wong
Madison, Wis., March 5 - Santander Holdings USA, Inc., a wholly owned indirect subsidiary of Banco Santander, SA, said it began a fixed price cash tender offer for any and all of its sovereign capital trust IV 4.375% trust Piers with a liquidation amount outstanding of $476.6 million.
Holders will receive $77.35 per $50.00 liquidation amount of trust Piers tendered by the end of the offer at 11:59 p.m. ET on March 29.
Tendered notes may be withdrawn by 5 p.m. ET on March 11.
D.F. King & Co., Inc. (212 269-5550 for banks and brokers and 800 967-7921 for all others) is the tender agent and information agent.
Boston-based Santander Holdings USA is the parent company of Sovereign Bank. Banco Santander is a commercial and private bank based in Madrid.
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