Santander UK announces tender offer results for notes due 2023

Chicago, July 5 – Santander UK Group Holdings plc announced the results of its tender offer for any and all of its €1 billion 1.125% senior notes due Sept. 8, 2023 (ISIN: XS1487315860), according to a notice.

As of the deadline of 11 a.m. ET on July 4, the company received tenders for €340,691,000 nominal amount of the notes.

The offeror is accepting all of the notes tendered without any pro rata scaling.

Pricing for the offer took place at 6 a.m. ET on July 5.

The purchase price is 99.595, based on the 0.875% interpolated mid-swap rate and a purchase spread of 60 basis points with the purchase yield at 1.474%.

Accrued interest will also be paid.

After settlement on July 6, €659,309,000 of the notes will remain outstanding.

Banco Santander, SA (+44 74 1870 9688, +44 77 0831 5191; Tommaso.GrosPietro@gruposantander.com, Alex.Pilkington@gruposantander.com) and NatWest Markets plc (+44 20 7678 5222; NWMLiabilityManagement@natwestmarkets.com) are acting as dealer managers for the offer.

Kroll Issuer Services Ltd. (+44 20 7704 0880; santander@is.kroll.com, https://deals.is.kroll.com/santander) is the tender agent.

Santander UK is a London-based financial services company.

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