By Cristal Cody
Tupelo, Miss., June 4 – Santander Holdings USA, Inc. sold $1 billion of 3.5% five-year senior notes (Baa3/BBB+/BBB+) on Tuesday at 99.914 to yield 3.519%, according to a market source and an FWP filing with the Securities and Exchange Commission.
The company priced the notes on the tight side of guidance at a spread of 163 basis points over Treasuries.
A tranche of senior floating-rate notes was dropped from the offering.
Barclays, Citigroup Global Markets Inc., 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 7, 2024
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., RBC Capital Markets LLC and Santander Investment Securities Inc.
|
| Co-managers: | Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC
|
| Coupon: | 3.5%
|
| Price: | 99.914
|
| Yield: | 3.519%
|
| Spread: | Treasuries plus 163 bps
|
| Call feature: | Make-whole call on or after Dec. 4, 2019 and before May 7, 2024 at price equal to greater of par and Treasuries plus 25 bps; thereafter at par
|
| Trade date: | June 4
|
| Settlement date: | June 7
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 165 bps area, plus or minus 2 bps; initial talk at Treasuries plus 175 bps area
|
© 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.
