By Cristal Cody
Tupelo, Miss., March 22 – Santander Holdings USA, Inc. priced an upsized $1 billion of 3.7% five-year senior notes at a spread of Treasuries plus 180 basis points in a Rule 144A and Regulation S offering on Wednesday, according to a market source and a company news release.
The deal was upsized from $900 million, and the notes priced in line with guidance.
Barclays, J.P. Morgan Securities LLC, Santander Securities LLC and UBS Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
Boston-based Santander Holdings USA is the parent company of Sovereign Bank and a subsidiary of Spain’s Banco Santander, SA.
| Issuer: | Santander Holdings USA, Inc.
|
| Amount: | $1 billion
|
| Description: | Senior notes
|
| Maturity: | March 28, 2022
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, Santander Securities LLC and UBS Securities LLC
|
| Coupon: | 3.7%
|
| Spread: | Treasuries plus 180 bps
|
| Trade date: | March 22
|
| Settlement date: | March 27
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB+
|
| Distribution: | Rule 144A, Regulation S, private
|
| Price guidance: | Treasuries plus 180 bps area
|
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