By Christine Van Dusen
Atlanta, Dec. 18 - Grupo Financiero Santander Mexico SAB de CV, a subsidiary of Spain's Banco Santander SA, priced $1.3 billion of 5.95% Basel III-compliant Tier 2 hybrid notes (expected rating: //BB+), a market source said.
Banco Santander Spain has agreed to purchase $975 million, or 75%, of the new instruments and those not purchased by third parties.
No other details were immediately available on Wednesday.
Banco Santander is a Madrid-based bank.
Issuer: | Grupo Financiero Santander Mexico SAB de CV
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Amount: | $1.3 billion
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Maturity: | 2024
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Description: | Basel III-compliant Tier 2 hybrid notes
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Coupon: | 5.95%
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Trade date: | Dec. 18
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Expected rating: | Fitch: BB+
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Distribution: | Rule 144A/Regulation S
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Price talk: | 6½%
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