Santander Holdings USA plans to sell senior fixed-to-floaters

Chicago, Jan. 2 – Santander Holdings USA, Inc. is in the Tuesday market with an offering of fixed-to-floating rate senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

The initial fixed rate will convert to a floating rate based on SOFR in the final year.

The notes become callable with a make-whole premium after 180 days until the reset date. The notes are callable at par on the reset date and then again during the final month before the maturity date.

Santander US Capital Markets LLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and RBC Capital Markets, LLC are bookrunners for the offering.

The validity of the notes is being assessed by Wachtell, Lipton, Rosen & Katz and McGuireWoods LLP for the bank. Latham & Watkins LLP is advising the underwriters.

Deutsche Bank Trust Co. Americas will be the trustee.

Proceeds will be used for general corporate purposes.

The Boston-based issuer is a wholly owned subsidiary of Spain’s Banco Santander, SA. The issuer specializes in consumer financing focused on vehicle financing.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.