Santander USA begins tender offer for $800 million 4.375% trust Piers

By Susanna Moon

Chicago, Nov. 26 - Santander Holdings USA, Inc., a wholly owned indirect subsidiary of Banco Santander, SA, said it began a fixed price cash tender offer for its sovereign capital trust IV 4.375% trust Piers with a liquidation amount outstanding of $800 million.

Holders will receive $78.95 per $50.00 liquidation amount of trust Piers tendered by the end of the offer at 11:59 p.m. ET on Dec. 26.

Tendered notes may be withdrawn by 5 p.m. ET on Nov. 29.

D.F. King & Co., Inc. (800 967-7921 or banks and brokers, 212 269-5550) 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.