spot_img
Friday, March 29, 2024

Linklaters advises Santander on €5bn debt issue

Linklaters has advised Santander on the issue of €5 billion in senior preferred debt in three tranches, the largest senior preferred debt operation issued by a financial institution in euros since 2009

-

Santander closes the largest senior preferred debt issue in euros since 2009 for €5 billiion

Banco Santander has closed an issue of €5,000 millio in senior preferred debt in three tranches with maturities of two, three and five years.

The issue was oversubscribed by €7.5 billion. In addition, it is the largest senior preferred debt operation issued by a financial institution in euros since 2009, when Rabobank placed this type of bond for €5 billion.

The first two-year tranche will pay a quarterly floating rate coupon at a price of three-month Euribor plus 55 basis points, lower than the 80 basis points starting price. The second three-year tranche will pay an annual fixed-rate coupon of 80 basis points over midwsap, after the exit price was reduced from the range of 100 to 105 basis points. The third tranche will have a five-year maturity and a fixed annual coupon priced at a spread of 110 basis points over midswap. It started with a price of midswap plus a range of 130 to 135 basis points.

Linklaters advised with a team made up of partners Jorge Alegre and Federico Briano, together with managing associates Pablo Ruiz de Assin and Yiannis Kyriakides and junior associate Luis Rodrigo.

- Advertisement -spot_img
- Advertisement -spot_img

MOST READ NEWS

BM assists AEW with two retail parks acquisition

AEW has been advised by Baker McKenzie on the acquisition of two prime retail parks in Spain: Rivas Futura, one of the largest prime...

Linklaters makes internal promotions in Madrid

After announcing the promotion of three partners and one counsel in Madrid, the firm has continued with its round of internal lawyer promotions, promoting...

ECIJA confirms alliance wth Taylor Wessing

With the aim of consolidating its position as a leading international TMT giant, and although this is a non-exclusive agreement, both firms will support...
spot_img
spot_img
spot_img
spot_img
- Advertisement -spot_img
error: