Banco Santander (ES:SAN) has released an update.
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Banco Santander is launching a cash tender offer for two series of notes due January 2026, aiming to optimize its liquidity and debt profile. The offer, which runs from September 23 to September 27, 2024, invites holders of €1,500,000,000 1.375% Senior Non-Preferred and €1,750,000,000 3.75% Fixed Rate Senior Preferred instruments to tender their notes for purchase. The purchase prices will be finalized on September 30, 2024, and the bank also indicates plans to issue new series of notes, with priority allocation available for current note holders who participate in the offer.
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