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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Banco Santander, S.A. Sponsored Adr (Spain) | NYSE:STD | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.10 | 0.00 | 01:00:00 |
Santander U.K. has priced its three-part bond backed by residential mortgages, one of the banks running the deal said Wednesday.
Tranche A1 raised GBP515 million, with a weighted average life or WAL of 4.8 years, priced at par with a coupon of 155 basis points over three-month Libor.
Tranche B1 at $140 million has a WAL of 5.3 years and priced at par with a coupon of 220 basis points over three-months Libor.
Tranche B2 at GBP33 million with a WAL 5.3 years, priced at par with a coupon of 235 basis points over three-month Libor.
Santander Global Banking & Markets, or Santander GBM, is sole arranger on the transaction, with Barclays PLC and Santander joint lead managers. The transaction is being sold through a vehicle called Holmes Master Issuer PLC Series 2012-3.
Residential mortgage-backed securities, or RMBS, are issued by special-purpose vehicles that are serviced with the payments made on a pool of residential mortgages, which are taken off the mortgage provider's balance sheet.
By Carol Dean, Dow Jones Newswires; 44 20 7842 9306 carol.dean@dowjones.com
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