By Cristal Cody
Tupelo, Miss., April 4 – Banco Santander, SA sold $2.5 billion of second ranking senior debt securities (/BBB+/A-) in three tranches on Tuesday, according to a market source.
The $500 million five-year floating-rate tranche priced at Libor plus 156 basis points.
Banco Santander sold $1 billion of 3.5% five-year fixed-rate notes at a spread of Treasuries plus 168 bps.
The company priced $1 billion of 4.25% 10-year fixed-rate notes at a Treasuries plus 200 bps spread.
BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Santander Investment Securities Inc. and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes, according to a 424B5 filed Wednesday with the Securities and Exchange Commission.
Madrid-based Banco Santander provides bank services.
| Issuer: | Banco Santander, SA
|
| Amount: | $2.5 billion
|
| Description: | Second ranking senior debt securities
|
| Bookrunners: | BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Santander Investment Securities Inc. and Wells Fargo Securities LLC
|
| Trade date: | April 4
|
| Ratings: | S&P: BBB+
|
| Fitch: A-
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $500 million
|
| Maturity: | April 11, 2022
|
| Coupon: | Libor plus 156 bps
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 11, 2022
|
| Coupon: | 3.5%
|
| Spread: | Treasuries plus 168 bps
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 11, 2027
|
| Coupon: | 4.25%
|
| Spread: | Treasuries plus 200 bps
|
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