By Aleesia Forni
Virginia Beach Oct. 31 - Santander UK plc priced a $1.5 billion issue of 5% 10-year subordinated notes on Thursday with a spread of Treasuries plus 250 basis points, according to a market source.
The notes priced tighter than talk.
Pricing was at 99.68 to yield 5.041%.
Barclays, BofA Merrill Lynch, Deutsche Bank Securities Inc. and Santander were the joint bookrunners.
The financial services company is based in London.
| Issuer: | Santander UK plc
|
| Amount: | $1.5 billion
|
| Description: | Subordinated notes
|
| Maturity: | Nov. 7, 2023
|
| Bookrunners: | Barclays, BofA Merrill Lynch, Deutsche Bank Securities Inc., Santander
|
| Coupon: | 5%
|
| Price: | 99.68
|
| Yield: | 5.041%
|
| Spread: | Treasuries plus 250 bps
|
| Trade date: | Oct. 31
|
| Settlement date: | Nov. 7
|
| Price talk: | Treasuries plus 260 bps
|
| Distribution: | Rule 144A and Regulation S
|
© 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.
