We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Banco Santander SA | NYSE:SAN | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.11 | 2.14% | 5.25 | 5.27 | 5.19 | 5.20 | 2,827,679 | 00:09:33 |
By Miriam Mukuru
Santander said it has issued $2.5 billion in Additional Tier 1 bonds, following recent similar issuances by other European banks including UBS Group, Societe Generale and Barclays.
AT1 bonds are risky debt created after the global financial crisis which act as safety buffers if a bank's capital levels fall below a certain threshold. They can be converted into equity or written down if the bank runs into trouble.
The issuance comprises two parts, consisting of $1.15 billion in five-year call bonds and $1.35 billion in 10-year call bonds, both priced at 9.625%.
Market sources say the total book size was around $8 billion, $3.25 billion for the five-year call bonds and $4.75 billion for the 10-year call bonds.
As with other recently-issued AT1 bonds, Santander said the bonds would be convertible into shares upon a trigger event--in this case, the bank's common equity Tier 1 ratio falling below 5.125%.
Write to Miriam Mukuru at miriam.mukuru@wsj.com
(END) Dow Jones Newswires
November 17, 2023 04:37 ET (09:37 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
1 Year Banco Santander Chart |
1 Month Banco Santander Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions