Banco Santander offers dollar senior debt securities due 2026, 2031; initial talk emerges

By Rebecca Melvin and Cristal Cody

New York, March 23 – Initial price talk emerged on Banco Santander, SA’s offering of dollar-denominated senior non-preferred debt securities, according to a market source.

The tranche due 2026 was talked to yield in the Treasuries plus 125 basis points area, and the tranche due 2031 was talked to yield in the Treasuries plus 155 bps area.

According to a 424B5 filed with the Securities and Exchange Commission, the securities are non-callable.

Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Santander Investment Securities Inc. are the bookrunners.

The proceeds will be used for general corporate purposes. And the securities are expected to be listed on the New York Stock Exchange.

Madrid-based Banco Santander provides bank services.

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