Banco Santander (ES:SAN) has released an update.
Banco Santander has successfully executed a $1.5 billion placement of contingent convertible preferred shares, targeting professional investors and eligible counterparties through an accelerated book-building process. These shares offer an 8% annual return for the first decade, and will count as additional tier 1 capital to boost the bank’s financial robustness. The shares are set to be traded on the New York Stock Exchange, with further details available on the bank’s website.
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