Santander Holdings USA to offer fixed-to-floating notes

By William Gullotti

Buffalo, N.Y., March 6 – Santander Holdings USA, Inc. is prepared to offer a single tranche of fixed-to-floating rate notes, according to a 424B3 filing with the Securities and Exchange Commission on Monday morning.

The fixed-rate notes will reset to a floating rate with semiannual resets based on SOFR plus a margin.

There will be a make-whole call and then a par call.

Santander US Capital Markets LLC, Barclays, Deutsche Bank Securities Inc. and RBC Capital Markets, LLC are the joint bookrunning managers.

Deutsche Bank Trust Co. Americas is the trustee.

Wachtell, Lipton, Rosen & Katz and McGuireWoods LLP are advising the issuer for legal matters. Latham & Watkins LLP is advising the underwriters.

Proceeds will be used for general corporate purposes.

Boston-based Santander Holdings USA is a bank holding company.

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