Published on 4/3/2024 in the Prospect News Emerging Markets Daily.
New Issue: Banco Santander Mexico sells $900 million 6.921% tier 2 notes
Chicago, April 3 – Banco Santander Mexico, SA sold $900 million of 6.921% tier 2 subordinated notes (Baa2), according to multiple notices.
Parent Banco Santander SA was responsible for all of the Basel-III compliant issue.
The issuer is a banking institution based in Mexico City. Madrid’s Banco Santander is a major shareholder.
| Issuer: | Banco Santander Mexico, SA
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| Amount: | $900 million
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| Issue: | Tier 2 subordinated preferred capital notes
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| Bookrunner: | Banco Santander SA
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| Counsel to issuer: | Davis Polk
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| Coupon: | 6.921%
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| Trade date: | March 15
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| Settlement date: | March 21
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| Ratings: | Moody’s: Baa2
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