By Aleesia Forni
Virginia Beach, April 14 – Santander Holdings USA Inc. sold a $1 billion issue of 2.65% five-year senior notes (Baa2/BBB/) on Tuesday at Treasuries plus 140 basis points, according to a FWP filed with the Securities and Exchange Commission.
Pricing was at 99.601 to yield 2.736%.
The notes sold tighter than price talk.
Proceeds will be used for general corporate purposes.
Barclays, BofA Merrill Lynch and Santander were the bookrunners.
Boston-based Santander Holdings USA is the parent company of Sovereign Bank. It is a subsidiary of Spain’s Banco Santander, SA.
| Issuer: | Santander Holdings USA Inc.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | April 17, 2020
|
| Bookrunners: | Barclays, BofA Merrill Lynch, Santander
|
| Coupon: | 2.65%
|
| Price: | 99.601
|
| Yield: | 2.736%
|
| Spread: | 140 bps over Treasuries
|
| Trade date: | April 14
|
| Settlement date: | April 17
|
| Call option: | Callable on or after March 17, 2020
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB
|
| Distribution: | SEC registered
|
| Price talk: | 150 bps area over Treasuries
|
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