By Cristal Cody
Tupelo, Miss., April 5 – Banco Santander, SA provided additional details of its previously reported $2.5 billion three-part sale of second ranking senior notes (Baa2/BBB+/A-) on Tuesday in an FWP filing with the Securities and Exchange Commission.
The $500 million series 5 five-year floating-rate tranche priced at par to yield Libor plus 156 basis points.
Banco Santander sold $1 billion of series 4 3.5% five-year fixed-rate notes at 99.682 to yield 3.57% and a spread of Treasuries plus 168 bps.
The company priced $1 billion of series 6 4.25% 10-year fixed-rate notes at 99.108 to yield 4.361%, or a Treasuries plus 200 bps spread.
Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, 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: | Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Santander Investment Securities Inc. and Wells Fargo Securities LLC
|
| Trade date: | April 4
|
| Settlement date: | April 11
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB+
|
| Fitch: A-
|
| Distribution: | SEC registered
|
|
|
| Five-year floaters
|
| Amount: | $500 million
|
| Maturity: | April 11, 2022
|
| Coupon: | Libor plus 156 bps
|
| Price: | Par
|
| Yield: | Libor plus 156 bps
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 11, 2022
|
| Coupon: | 3.5%
|
| Price: | 99.682
|
| Yield: | 3.57%
|
| Spread: | Treasuries plus 168 bps
|
|
|
| Ten-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 11, 2027
|
| Coupon: | 4.25%
|
| Price: | 99.108
|
| Yield: | 4.361%
|
| Spread: | Treasuries plus 200 bps
|
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