Santander accepts €142.2 million of tendered notes, will pay 104.923

By Devika Patel

Knoxville, Tenn., June 21 – Santander UK plc received and accepted tenders of €142,198,000 of fixed-rate notes due March 10, 2025 (ISIN: XS1199439222) in its tender offer for €619,484,000 of the $1 billion outstanding notes, according to a notice.

The offer was announced on June 14 and expired at 11 a.m. ET on June 18, with settlement expected for June 22.

The company will pay 104.923 per note and plans to accept all of the tendered notes.

Pricing was determined on June 21 at 9 a.m. ET using the interpolated mid-swap rate and a spread of 15 basis points. Santander also paid accrued interest.

Banco Santander, SA (+44 7418 709 688, +44 7742 403 679, tommaso.grospietro@santandercib.co.uk, adam.crocker@santandercib.co.uk) and J.P. Morgan Securities plc (+44 20 7134 2468, liability_management_EMEA@jpmorgan.com) were dealer managers for the offer, and Lucid Issuer Services Ltd. (+44 20 7704 0880; Attn: Oliver Slyfield, santander@lucid-is.com) was the tender agent.

Santander UK is a London-based financial services company.

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