Banco Santander Brasil calls $1.25 billion tier 2 subordinated notes due 2028

By Mary-Katherine Stinson

Lexington, Ky., Oct. 6 – Banco Santander Brasil SA, acting through its Grand Cayman branch, plans to redeem early its $1.25 billion 6.125% tier 2 subordinated notes due 2028 (ISIN: XS1903667662) at par, according to a notice.

Accrued interest in the amount of $38,281,250 will also be paid.

The notes will be redeemed and canceled on Nov. 8.

After the full redemption, no notes will remain outstanding.

The redemption is subject to prior approval of the Brazilian Central Bank.

Bank of New York Mellon is the trustee.

The bank is based in Sao Paulo, Brazil.

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