Banco Santander $2.5 billion senior notes issue

Overview:

• Banco Santander has issued $2.5 billion in new senior notes.
• The issue consists of $1 billion 3.5% second-ranking senior notes due 2022, $1 billion 4.25% second-ranking senior notes due 2027 and $500 million floating-rate second-ranking senior notes due 2022.
• Bank of America Merrill Lynch, Credit Suisse, Santander and Wells Fargo Securities acted as joint bookrunners.
• Banco Santander intends to use the proceeds from the offering to improve its Total Loss Absorbing Capacity ratios and for general corporate purposes.  

Anna Kozakova - Journalist