By Devika Patel
Knoxville, Tenn., May 28 – Santander Holdings USA, Inc. offered further details, including the price and yield, on its $1 billion sale of 3.45% five-year senior notes (Baa3/BBB+/BBB+) that priced on Wednesday at a spread of 315 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.804 to yield 3.493%.
Initial price talk was in the Treasuries plus 350 bps area. Guidance was firmed to the 320 bps area, plus or minus 5 bps.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC and Santander Investment Securities Inc. were the bookrunners.
Proceeds will be used for general corporate purposes.
Boston-based Santander Holdings USA is a wholly owned subsidiary of Madrid-based Banco Santander, SA.
| Issuer: | Santander Holdings USA, Inc.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | June 2, 2025
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC and Santander Investment Securities Inc.
|
| Co-managers: | BMO Capital Markets Corp., Deutsche Bank Securities Inc. and TD Securities (USA) LLC
|
| Coupon: | 3.45%
|
| Price: | 99.804
|
| Yield: | 3.493%
|
| Spread: | Treasuries plus 315 bps
|
| Call: | Make-whole call at greater of par and Treasuries plus 50 bps until May 2, 2025, then a par call
|
| Trade date: | May 27
|
| Settlement date: | June 1
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 320 bps area, plus or minus 5 bps; initial talk at Treasuries plus 350 bps area
|
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